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* USDINR fell for an eighth consecutive day and closed 76 paise lower at 74.08 yesterday

* Unexpected Fed interest rate hike projection causes dollar to jump to a 2 month high

* BoE seen hiking rates in 2023 as it looks through temporary inflation rise

* US inflation drops to a 3 moth low at 2.27%

* India's $600bn forex reserve may not be enough to cover imports and liabilities: RBI research paper

* BoJ inflation rate decision, UK retail sales put the yen and pound in focus today

OUTLOOK - USDINR

Rupee opened 33 paise lower at 73.65 from its previous close against the US dollar and it finally closed a net 76 paise lower at 74.08 yesterday. USDINR had gained as far as the intraday high of 73.57 and fell to an intraday low of 74.08. The dollar index which compares the strength of the dollar against 6 major currencies rose 0.55% and closed at 91.90. Brent crude futures fell 1.08% to trade at $73.21/barrel. USDINR near futures are at 74.2250 with the next support seen at 73.8058 and next resistance seen at 74.4883 ahead of market opening today.

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