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* The dollar fell on Wednesday after the Federal Reserve raised interest rates by a quarter of a percentage point and signaled it may pause further increases. In an overt shift, the central bank no longer said it "anticipates" further rates will be needed, only that it will watch incoming data to determine if more hikes "may be appropriate.

* The Chilean peso is set for a period of stability as economic and political worries continue to fade, validating the central bank's decision to unwind an intervention program implemented last year to calm market turmoil, a Reuters poll showed. In July last year, the peso plunged to a record low of 1,050 per U.S. dollar in reaction to a sharp drop in the price of copper, Chile's top export, that added to concerns over a proposed reform of its marketfriendly constitution.

* The U.S. dollar will remain resilient against most major currencies over the coming months despite expectations of narrowing interest rate differentials, a Reuters poll of foreign exchange strategists predicted. Although the greenback weakened 0.8% last month, it was mild compared to March's 2.3% slide as persistently high inflation bolstered expectations of another Federal Reserve interest rate hike later on Wednesday.

* The surging euro may be the European Central Bank's best friend for a change. Unlike much of the past 15 years, euro strength is on the ECB's side as it meets on Thursday. And it is unlikely to restrain the central bank from tightening further.With so much focus on the dollar's recoil from last year's 20-year high, with U.S. interest rates seemingly cresting, it is easy to overlook the mounting independent strength of the euro.

* The dollar fell Tuesday after data showed that U.S. job openings fell in March, a day before the Federal Reserve is expected to hike interest rates by an additional 25 basis points.

Observation

* The correction in GBPINR has been done gracefully as the pair has not got into formation of Lower Lows & Lower Highs.

* The breakout of the Inverse Descending Triangle pattern, signaling the continuation of prior uptrend.

* The prices have been supported by the 20-period Exponential Moving Average (EMA), which has acted as a dynamic support level.

* The Relative Strength Index (RSI) momentum indicator has shown a steady rise and is currently above 50, indicating a presence of positive momentum in the prices.

Inference

* Buy above 102.5400 Target 103.6000 SL 102

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