
The dollar-yen rate briefly fell to around 157.4 yen after early Democratic wins in the US midterms weakened the dollar broadly. It returned to about 158.1 by the morning, the level where it has traded since mid-September.
Official data show Japan spent no yen on currency intervention in October.
A stronger dollar against the yen raises the cost of US commodity imports for Japan, while a weaker dollar eases it. The move is short-lived and does not change the wider feed price outlook.
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.