# Yen Strengthens as US Dollar Weakens as Midterm Election Returns Push US Rates Lower

> 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.

- Date: 2026-11-04 · published 2026-11-04T06:08:45.503Z
- Category: macro · region Japan · magnitude low
- Page: https://feedsoft.ai/events/79198-yen-strengthens-as-us-dollar-weakens-as-midterm-election-returns-push-us-rates
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

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.

## Read by commodity

- DXY: bearish ▼
- WTI: bearish ▼
- USDJPY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2021-02-28 | [Metals smashed as dollar strengthens](https://feedsoft.ai/events/48548-metals-smashed-as-dollar-strengthens.md) | +7.4% | -1.0% |
| WTI | 2018-02-02 | [Oil prices fall as US stock market slumps and dollar strengthens](https://feedsoft.ai/events/66659-oil-prices-fall-as-us-stock-market-slumps-and-dollar-strengthens.md) | -7.0% | -7.1% |
| WTI | 2024-08-05 | [Dollar down as US rate cut bets rise, yen surges](https://feedsoft.ai/events/7431-dollar-down-as-us-rate-cut-bets-rise-yen-surges.md) | +4.4% | -0.4% |
| WTI | 2020-02-28 | [Baht gains more ground, as US dollar weakens](https://feedsoft.ai/events/54839-baht-gains-more-ground-as-us-dollar-weakens.md) | -2.6% | -61.0% |
| WTI | 2021-08-19 | [Uptick in COVID Cases & Strengthening Dollar Push Prices Down](https://feedsoft.ai/events/11405-uptick-in-covid-cases-and-strengthening-dollar-push-prices-down.md) | +4.7% | +11.1% |
| DXY | 2024-03-20 | [Dollar weakens after Fed meeting, yen strengthens](https://feedsoft.ai/events/31389-dollar-weakens-after-fed-meeting-yen-strengthens.md) | +0.1% | +1.8% |
| DXY | 2018-02-28 | [Japanese yen may strengthen as dollar weakens: Morgan Stanley and ING](https://feedsoft.ai/events/66740-japanese-yen-may-strengthen-as-dollar-weakens-morgan-stanley-and-ing.md) | -0.1% | -0.5% |
| DXY | 2025-11-26 | [South African rand strengthens as downbeat US data weakens dollar \| CNBC Africa](https://feedsoft.ai/events/22251-south-african-rand-strengthens-as-downbeat-us-data-weakens-dollar-cnbc-africa.md) | -0.7% | -1.8% |

## Sources

- nikkei.com: https://www.nikkei.com/article/DGXZQOFL042Q80U6A101C2000000/

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