# USD/JPY Analysis: Rising U.S. Yields Leave the Yen on the Defensive

> USD/JPY has risen more than 0.7% over two sessions as US Treasury yields recovered and markets expected the Federal Reserve to take a firmer stance. The Fed and Bank of Japan both kept rates unchanged last week, but the policy outlook is starting to diverge toward the end of 2026.

- Date: 2026-11-03 · published 2026-11-04T00:12:55.389Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/78602-usd-jpy-analysis-rising-u-s-yields-leave-the-yen-on-the-defensive
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

A wider rate gap that supports the dollar against the yen raises the cost of imported feed for yen-based buyers, but it does not directly change global feed supply.

## Sources

- forex.com: https://www.forex.com/ie/news-and-analysis/usd-jpy-analysis-rising-u-s-yields-leave-the-yen-on-the-defensive/

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