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* USDINR ended 3 paise higher at 72.84 yesterday

* FBIL set the reference rate for USDINR at 72.8883 and Euro at 88.0321

* Fed chairman Jerome Powell took cautious view, "to remain patiently accomodative" amid weak employment data, policies to remain for a while before rate hikes

* US January core inflation slightly lower than expected

OUTLOOK - USDINR

Rupee opened flat at 72.87 which was the previous close and traded in the higher range and finally closed 3 paise higher at 72.84 against the US dollar. USDINR had gained as far as the intraday high of 72.81 and fell to an intraday low of 72.87 which was the opening price. The dollar index which compares the strength of the dollar against 6 major currencies declined 0.21% and closed at 90.38. Brent crude futures increased a further 0.30% to trade at $61.52/barrel. USDINR near futures are at 72.9300 with the next support seen at 72.8833 and next resistance seen at 73.0033 ahead of market opening on thursday.

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