0641 GMT [Dow Jones] USD/JPY may rise, possibly to 87.00 sometime in December on any further gains in U.S. Treasury yields, says Hideki Amikura, deputy general manager at Nomura Trust and Banking. "The main driver for further gains would be continued rises in Treasury yields, particularly in the short zone." Many investors watch spreads between short-dated U.S.-Japan government debt as indicator for direction to take on pair. Says continued tensions on Korean peninsula may also help USD/JPY. While both USD, JPY considered safe havens, investors likely to prefer USD to JPY given Japan's proximity to conflict. "The tensions will probably continue to prompt some global investors to consider trimming their yen holdings further." U.S., South Korea to commence 4-day joint naval exercise in Yellow Sea on Sunday, following North Korea's shelling of South Korean island there earlier this week. USD/JPY last at 83.86 after hitting fresh near 8-week high at 83.92.(andrew.monahan@dowjones.com)
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