EL7.AI
ForexMedium•4 November 2026•
1 min read

USD/JPY Declines as US Yields Drop Following Democratic Sweep of Congress

Key Facts

1The USD/JPY pair fell 0.36% to 158.12 after touching a session low of 157.39.
2The Democratic sweep of Congress pulled the 10-year Treasury yield down to 4.92%.

The USD/JPY pair fell 0.36% to 158.12 after touching a session low of 157.39, TradingNEWS reported. The decline followed election results confirming a Democratic sweep of the US Congress, which pulled the 10-year Treasury yield down to 4.92%.

The political outcome led to a compression in the interest rate differential between the Dollar and the Yen. In recent price action, USD/JPY traded between 156.975 on October 30, 2026, and 158.74 on November 3, 2026, while Japan’s 10-year government bond yield held at 2.77% on November 3, 2026.

Market attention shifts to upcoming US labor data, with Initial Jobless Claims scheduled for November 5, 2026. This will be followed by the Nonfarm Payrolls and Unemployment Rate report on November 6, 2026, which may further influence yield trajectories.

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