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USD/JPY touched 158.00 on November 2, its highest since October 29, even as the dollar fell against the euro and pound on US-Iran diplomacy. Crude oil fell on the talks, which would cut Japan's import bill, but the yen still weakened.
The ISM manufacturing index rose to 55.5 from a 54.6 forecast, lifting the pair back toward 158.00.
Lower crude is normally supportive of yen-importing economies, but the stronger dollar means Japanese buyers still pay more for US-priced feed grains and meal. The pair's direction depends on upcoming US payrolls and BoJ communications.
fxstreet.comJoshua GibsonNov 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.
