Forex News USD may fall vs EUR, JPY amid lingering fears for U.S. financial crisis, says trader at Tokyo trust bank; better-than-expected JP Morgan earnings overnight push USD up, but weak results from Merrill Lynch could prompt Asia investors to keep selling USD. "The dollar sharply rose back after the release of the earnings results from JP Morgan's, but following Merrill's results, players become on guard against U.S. financial conditions again. They are not in a position where they can keep buying back the dollar." Adds, Moody's downgrade of debt ratings on Merrill Lynch, Lehman may also weigh on USD. USD/JPY likely to move in 105.80-106.50 band for now; last 106.18 on EBS. EUR/USD tipped 1.5820-1.5900 for now; last 1.5852 on EBS. JPY crosses like EUR/USD may also fall for same reason despite bounceback in U.S. stocks last night. Tips 167.80-168.80 band for now; last 168.31 on EBS. Focus now on earnings results from Citi due later in day.
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