The Japanese Yen trims gains against the US Dollar as the greenback recovers from its post-midterm election reversal, with the pair retracing half of its recent move.
On 4 November 2026 the yen kept moderate gains versus the dollar but surrendered almost half of its post-US-midterm move, after a clear Democratic victory triggered a dollar reversal that is now partly unwinding. The dollar’s recovery points to a higher USD/JPY over the near term, though the yen remains net stronger.
A clear Democratic win in the US midterms triggered a dollar reversal; by 4 November the dollar was recovering and the yen had given back almost half its gains.
Yes, it still holds moderate gains versus the dollar.
The Japanese Yen retains moderate gains against the US Dollar on Wednesday, though it has surrendered nearly 50% of the appreciation recorded following the Democratic victory in the US midterm elections. The dollar's recovery signals a potential near-term shift in momentum for the pair as markets recalibrate post-election volatility.
The movement is driven by a market correction following the US midterm elections, where a clear Democratic victory initially weakened the dollar, which is now undergoing a partial recovery.
Yes, despite giving back nearly half of its post-election gains, the Yen continues to hold moderate gains against the US Dollar.