Koen's query will work because SQL does updates in two phases, first where it reads the data second where it changes.
If it's not doing what you want, please post actual data and desired results (and the table's definition) so we can see what's happening.
Gail Shaw
Microsoft Certified Master: SQL Server, MVP, M.Sc (Comp Sci)
SQL In The Wild: Discussions on DB performance with occasional diversions into recoverability