The Japanese yen declined sharply against major currencies in early Asian deals on Tuesday. The Bank of Japan released its board meeting minutes in early Asian session today.

The board members of the Bank of Japan suggested that the Japanese economy may begin to recover from the current recession in the second half of this year at the earliest, minutes from the February 18 and 19 monetary policy meeting revealed today.

As of now, the yen is worth 142.23 against the pound, 132.70 versus the euro, 97.30 against the US dollar and 86.55 versus the Swiss franc.

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