Forex News JPY crosses rising in tandem with Nikkei climb (now up 0.6%), may extend gains as long as stocks recover, says trader at Tokyo trust bank. Despite weak earnings results from Merrill Lynch, Moody's downgrade of debt ratings on Merrill Lynch, Lehman, "many players appear to be keen to sell the yen anticipating big rallies in U.S. equity markets last night could keep supporting Japanese and Asian stocks." But rises would be limited on selling by Japan exporters, Asia funds, who want to take profits. USD/JPY likely to move in 106.00-106.80 band for now; last 106.43 on EBS. EUR/JPY tipped 168.00-169.00 for now; last 168.53 on EBS.
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