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* USDINR closed 1 paise lower at 73.07 on Friday

* Fed reserve officials could this week project interest rate liftoff in 2023 amid fast economic growth and inflation, while scaling back of bond purchase may have to wait till August or September

* BoJ could increase its stimulus to support fragile economic growth

* Industrial production figures from Euro zone will put focus on Euros while FOMC meet will put dollar in focus this week as dollar index trades at 5 week high

OUTLOOK - USDINR

Rupee opened 12 paise higher at 72.94 from its previous close against the US dollar and it finally closed a net 1 paise lower at 73.07 on Friday. USDINR had gained as far as the intraday high of 72.91 and fell to an intraday low of 73.09. The dollar index which compares the strength of the dollar against 6 major currencies rose 0.50% and closed at 90.51. Brent crude futures rose 0.43% to trade at $72.78/barrel. USDINR near futures are at 73.1925 with the next support seen at 73.0442 and next resistance seen at 73.2792 ahead of market opening today.

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