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News / Other data

* Argentina will regulate import authorizations more closely in an effort to prevent fraud and preserve reserves of U.S. dollars, Economy Ministry sources said on Saturday.

* The U.S. dollar strengthened against major currencies on Friday after U.S. data showing employers hired more workers than expected in September, suggesting the Federal Reserve will likely stick to its aggressive tightening policy for now.

* Central banks around the world are swapping their stockpiles of US Treasuries for cash -- just in case they need to intervene in markets to bolster their currencies.

* The euro fell against the dollar on Friday, while European stocks dropped and bond yields rose after data showed the U.S. economy created roughly as many jobs in September as expected, reinforcing expectations for more aggressive rate rises.

* The dollar was broadly flat in early dealings in Europe on Friday, holding on to the gains it made on the back of more hawkish commentary from the Federal Reserve on Thursday.

* The Reserve Bank of India likely sold dollars via state-run banks on Friday after the rupee slid below 82 to a record low against the dollar on concerns over the U.S. Federal Reserve rate outlook, traders told Reuters.

* Most Asian currencies were muted on Friday as caution kicked in ahead of a key U.S. labor report, while pressure from the dollar also weighed amid continued hawkish signals from the Federal Reserve.

Data inference

* Federal Reserve Governor Lael Brainard.

Chart for the day

Observation

* On looking at Daily chart of JPYINR, we can spot that the overall trend was on the downside while prices forming Lower Low, Lower High Formation.

* Prices after making a base around the multiple touch point level (Support) around 55.65 gave a breakout, indicated a reversal of trend to the upside, and have started to get into the higher high, higher Low structure.

* The 20 EMA which was acting as a resistances in the downtrend have changed its polarity to the variable support.

* RSI on the Daily Timeframe has shown a range shift Indicates rising momentum in the prices.

Inference

* Buy above 57.25 Target 58 SL 56.75

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