I believe not AS much in moving water, but yes. I cannot remember the exact ammount of pressure, but it seems I read that a certain ammount of barametric pressure change equals a 2 foot depth change. If you are looking at a typical "trouty" stream...Well, you can see the issue.
"They say you forget your troubles on a trout stream, but that's not quite it. What happens is that you begin to see where your troubles fit into the grand scheme of things, and suddenly they're just not such a big deal anymore." - John Gierach