Yen up as Citi next step eyed

Yen edges up as caution returns among investors following Friday's surge on Wall St on reports that NY Fed's Geithner will be nominated for US Treasury secretary.

Market players keep an eye on developments surrounding Citigroup as reports say it is considering putting risky assets into a government-supported "bad bank."

APEC leaders pledge quick and decisive action to prevent a severe global economic downturn.

Dlr/yen is at Y95.45, down 50 pips from late US trade Friday. Trading activity slows a bit, with Japanese markets closed for a holiday.

Euro/dlr edges up to $1.2626 from $1.2590, even as euro/yen falls to Y120.49 from Y120.80.