# Dollar climbs to 9-1/2-month high vs yen on oil, Mnuchin

> The dollar reached a 9-1/2-month high against the yen after OPEC agreed to its first output cut since 2008. Oil prices rose about 9 percent, lifting inflation expectations and US Treasury yields.

- Date: 2016-12-01 · published 2016-12-01T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/73709-dollar-climbs-to-9-1-2-month-high-vs-yen-on-oil-mnuchin
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Higher crude prices raise energy and freight costs for feed producers and can lift vegetable oil and biofuel values. A firmer dollar makes US commodities more expensive for overseas buyers.

## Read by commodity

- WTI: bullish ▲
- USDJPY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-01-11 | [Canadian dollar climbs to 2-month high as oil prices jump](https://feedsoft.ai/events/43396-canadian-dollar-climbs-to-2-month-high-as-oil-prices-jump.md) | +9.3% | +14.3% |
| WTI | 2016-11-30 | [Dollar surges to 8-1/2-month high against yen on OPEC deal](https://feedsoft.ai/events/74079-dollar-surges-to-8-1-2-month-high-against-yen-on-opec-deal.md) | +12.5% | +19.3% |
| WTI | 2024-08-26 | [Canadian dollar strengthens to 5-month high as oil rallies](https://feedsoft.ai/events/29033-canadian-dollar-strengthens-to-5-month-high-as-oil-rallies.md) | -1.7% | -5.9% |
| WTI | 2024-09-24 | [Oil climbs 2% to three-week high on China stimulus, Mideast conflict](https://feedsoft.ai/events/28484-oil-climbs-2-to-three-week-high-on-china-stimulus-mideast-conflict.md) | -3.5% | -0.1% |
| WTI | 2016-11-17 | [C$ strengthens to a 1-week high as oil climbs](https://feedsoft.ai/events/74055-c-strengthens-to-a-1-week-high-as-oil-climbs.md) | +3.4% | +11.7% |

## Sources

- reuters.com: https://www.reuters.com/article/global-forex-idUSL4N1DW22F/?feedName=usDollarRpt&feedType=RSS

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.