[{"CS_Currency":[{"name":"AUD"},{"name":"IVP"}],"TestRef":[{"name":"Reftest"},{"name":"Ref5"},{"name":"RefChanged"}],"Entity_Type_Value":[{"name":"Deal"}]}]

db.collection.update({"CS_Currency.name":"IVP",/** explcit match against FIRST element of Entity_Type_Value*/"Entity_Type_Value.0.name":"Deal"},{$set:{"CS_Currency.$.name":"IVPChanged"}})