Mumbai, Feb. 20 -- Japanese markets fell sharply as the latest Fed meeting minutes revealed that the U.S. central bank is in no rush to cut interest rates.

The Japanese yen hit its strongest level in over two months on BoJ rate hike bets and amid concerns about new tariff threats from Trump.

The Nikkei average dipped 1.24 percent to 38,678. 04 while the broader Topix index settled 1.18 percent lower at 2,734.60.

A stronger yen weighed on exporters, with automakers Honda, Toyota and Nissan falling 1-3 percent. Tech conglomerate SoftBank declined 2.1 percent.

Published by HT Digital Content Services with permission from Capital Market....