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News / Other data

* The dollar fell across the board for a second straight day on Friday, as investors favoured riskier currencies following signs U.S. inflation is cooling that boosted the case for the Federal Reserve to ease off its hefty interest rate hikes.

* China's yuan exchange rate is decided by market supply and demand, while its long-term strengthening trend will not change, a state-run media outlet said on late on Friday following a sharp jump in the local currency during the day.

* Turkey's central bank has put the finishing touches to a reserve-management system that has stabilised the lira currency ahead of elections in 2023, thanks to nearly 100 new regulations this year, industry sources and officials said.The policy, adopted in the wake of a historic currency crash a year ago, relies largely on foreign funds obtained from export revenues, foreign homebuyers and other sources to finely balance the market's supply and demand, the officials added.

* The strengthening of Thailand's baht was in line with regional currencies, the central bank said in a statement on Friday.

 * The Czech National Bank has not been present in currency markets to defend the crown since its last policy meeting on Nov. 3, but stands ready to prevent excessive fluctuations in the market, board member Oldrich Dedek told Czech Television.

* The U.S. dollar weakened in early European trade Friday, continuing the previous session’s selloff after U.S. inflation eased more than expected, while sterling edged higher after a small third-quarter growth contraction.

Data inference

* Federal Reserve Governor Lael Brainard

Chart for the day

Observation

* On looking at Daily chart of JPYINR, the prices made a base after a strong downtrend, which in the latest trading session have attempted to come out from.

* In the latest trading session prices have given a breakout from the inverse Head and Shoulder pattern indicating reversal on the upside.

* Prices have sustained above upper Bollinger band indicating the rising volatility.

* RSI have shown a breakout reflecting rising momentum in the prices.

Inference

* Buy at 57.92 Target 59 SL 57

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