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The yen weakened 30 sen against the dollar in New York on November 2, closing at 157.90-158.00, after four sessions of gains. Traders trimmed positions ahead of the US midterm elections, and a sharp fall in WTI crude to the mid-$96 range and lower US long-term yields (down to 4.86%) limited the dollar's advance.
Japan imports nearly all its crude, so lower oil prices ease its import bill, but a weaker yen raises the yen cost of imported feed grains and meal. Falling US yields and oil also reduce pressure on the dollar.
nikkei.comNikkei Inc.Nov 2, 2026Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
