Asian session: The yen remained

The yen remained higher after its biggest one-day gain in two months as signs of weakness in the global economy increased demand for haven assets.  The Bank of Japan is scheduled to meet tomorrow after holding off from easing policy on Oct. 5.

Japan’s currency maintained last week’s advance versus the euro before reports tomorrow that may show Spain’s gross domestic product shrank last quarter, while Germany’s jobless rate rose this month for the first time in more than three years. The Spanish economy probably shrank 0.4 percent in the three months ended Sept. 30 from the previous quarter, according to the median estimate of economists surveyed by Bloomberg News before preliminary government data tomorrow. Germany’s unemployment rate may have risen to 6.9 percent this month from 6.8 percent in September a separate poll showed ahead of tomorrow’s release. That would be the first gain since June 2009,

The Australian dollar slid on speculation concern over the outcome of the U.S. presidential election is sapping demand for higher-yielding assets. U.S. President Barack Obama and Republican challenger Mitt Romney entered the final stretch of the presidential contest, where opinion polls have tightened.

The Securities Industry and Financial Markets Association suggested that trading end at noon New York time today in dollar-denominated fixed-income securities in the U.S. because of Hurricane Sandy. The New York Stock Exchange and New York Mercantile Exchange canceled floor trading for the day.

EUR / USD: during the Asian session the pair fell to $1.2915.

GBP / USD: during the Asian session the pair fell to $1.6075.

USD / JPY: during the Asian session, the pair traded in the range of Y79.60-75.