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In New York on November 4, the yen closed at 158.37-158.47 per dollar, gaining 27 sen. Crude oil futures fell after the US midterm elections, easing inflation worries.
Lower US long-term yields narrowed the Japan-US rate gap, which favored dollar selling and yen buying.
Lower oil and a weaker dollar reduce the cost of imported feed inputs priced in dollars for Japanese buyers. The drop in oil also eases inflation pressure that had supported higher rates.
sankei.comNov 5, 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.
