# Dollar surges to 8-1/2-month high against yen on OPEC deal

> The dollar hit an 8.5-month high against the yen and rose against the euro and Swiss franc on Wednesday. Crude rallied more than 8.5% after major oil producers agreed to cut output for the first time since 2008. Strong private payrolls data also lifted expectations of a more hawkish Federal Reserve.

- Date: 2016-11-30 · published 2016-11-30T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/74079-dollar-surges-to-8-1-2-month-high-against-yen-on-opec-deal
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

A stronger dollar makes US grain, meal and oilseed exports pricier for importers, which can weigh on US feed commodity prices. The OPEC-driven oil rally feeds into energy costs and biofuel economics that influence vegetable oil demand.

## Read by commodity

- DXY: bullish ▲
- WTI: bullish ▲
- USDJPY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2016-12-01 | [Dollar climbs to 9-1/2-month high vs yen on oil, Mnuchin](https://feedsoft.ai/events/73709-dollar-climbs-to-9-1-2-month-high-vs-yen-on-oil-mnuchin.md) | +0.8% | +8.8% |
| WTI | 2017-12-04 | [Ringgit surges to 4.06 against dollar \| Malay Mail](https://feedsoft.ai/events/67748-ringgit-surges-to-4-06-against-dollar-malay-mail.md) | -1.9% | +3.5% |
| WTI | 2017-07-31 | [Oil surges as dollar continues slide against the yen \| EconomyNext](https://feedsoft.ai/events/70214-oil-surges-as-dollar-continues-slide-against-the-yen-economynext.md) | -0.3% | -4.0% |
| 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 | 2016-12-12 | [Canadian dollar above 76 cents US as oil surges to 1½-year high \| CBC News](https://feedsoft.ai/events/73711-canadian-dollar-above-76-cents-us-as-oil-surges-to-11-2-year-high-cbc-news.md) | +0.8% | -1.3% |
| DXY | 2021-11-23 | [Dollar Surges to Four-Year High Against Yen on Faster Hike Bets - Bloomberg](https://feedsoft.ai/events/44277-dollar-surges-to-four-year-high-against-yen-on-faster-hike-bets-bloomberg.md) | +0.5% | +0.4% |
| DXY | 2024-04-16 | [Dollar hits 5-month high against euro; yen weakest since 1990](https://feedsoft.ai/events/30942-dollar-hits-5-month-high-against-euro-yen-weakest-since-1990.md) | +0.5% | -0.3% |
| DXY | 2024-02-13 | [US dollar rises to three-month high after inflation data, surges past 150 yen](https://feedsoft.ai/events/31870-us-dollar-rises-to-three-month-high-after-inflation-data-surges-past-150-yen.md) | +0.1% | -0.6% |

## Sources

- cnbc.com: https://www.cnbc.com/2016/11/29/dollar-stalls-ahead-of-potentially-market-moving-opec-meeting.html

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