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The yen rose to about 157.6 per dollar in Tokyo on November 4 as early US midterm vote counts pointed to Democratic gains in Congress. US long-term yields fell to the high 4% range, narrowing the US-Japan rate gap, and WTI crude slipped below $96.
A weaker dollar and lower oil prices ease pressure on Japan's energy import bill, a relevant factor for currency and fuel-cost exposure in feed markets; the move is largely a routine currency reaction with limited direct grain impact.
nikkei.comNikkei Inc.Nov 4, 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.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
