# Tokyo FX: Dollar-Yen Soft on Lower US Rates and Oil Prices

> On the morning of November 5, the dollar-yen pair traded weakly, falling from 158.43 to 157.85 yen. The US 10-year Treasury yield dropped to around 4.84%, and NY crude futures (WTI) fell to the $87 range. Japanese stocks also weakened, and the market bought yen and sold dollars.

- Date: 2026-11-05 · published 2026-11-05T06:08:22.384Z
- Category: macro · region Japan · magnitude low
- Page: https://feedsoft.ai/events/81159-tokyo-fx-dollar-yen-soft-on-lower-us-rates-and-oil-prices
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower US yields and weaker crude reduce the dollar's appeal and ease inflation pressure, which weighs on USDJPY. A firmer yen modestly lowers the cost of dollar-priced feed imports for Japanese buyers.

## Read by commodity

- WTI: bearish ▼
- USDJPY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2016-12-23 | [C$ hits a 5-week low on soft data, lower oil prices](https://feedsoft.ai/events/73697-c-hits-a-5-week-low-on-soft-data-lower-oil-prices.md) | +2.8% | +0.7% |
| WTI | 2022-12-06 | [Ringgit ends lower against US dollar as oil prices decline \| Malay Mail](https://feedsoft.ai/events/38501-ringgit-ends-lower-against-us-dollar-as-oil-prices-decline-malay-mail.md) | -5.0% | -5.3% |
| WTI | 2024-09-18 | [Crude oil prices today: WTI, Brent lower as Fed cuts rates](https://feedsoft.ai/events/28216-crude-oil-prices-today-wti-brent-lower-as-fed-cuts-rates.md) | +0.3% | -1.2% |
| 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 | 2022-12-15 | [Oil prices slid 2% as dollar firms and central banks hike interest rates](https://feedsoft.ai/events/38152-oil-prices-slid-2-as-dollar-firms-and-central-banks-hike-interest-rates.md) | +1.3% | +3.5% |

## Sources

- zaikei.co.jp: https://www.zaikei.co.jp/article/20261105/876252.html

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