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* USDINR closed 10 paise higher at 73.85 yesterday

* FBIL set the reference rate for USDINR at 74.5993 and Euro at 90.0329

* Dollar rise to 2 week high after Yellen says that interest rates may need to rise

* RBA keep rates near 0 as growth forecast is upgraded from 3.5 to 4.75%

* UK manufacturing PMI rise to 60.9, its highest level since 1994

* Fed tresury secretery Yellen says she expects full employment by next year

OUTLOOK - USDINR

Rupee opened 12 paise higher at 73.83, from its previous close against the US dollar and it finally closed a net 10 paise higher at 73.85 yesterday. USDINR had gained as far as the intraday high of 73.76 and fell to an intraday low of 73.97. The dollar index which compares the strength of the dollar against 6 major currencies rose 0.42% and closed at 91.33. Brent crude futures rose 1.81% to trade at $68.78/barrel. USDINR near futures are at 74.2575 with the next support seen at 74.1658 and next resistance seen at 74.4033 ahead of market opening today.

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