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Key Highlights

* The USDINR pair appreciated by 0.05 percent at 82.83 on Wednesday, amid rally in the dollar index.

* The dollar advanced on Thursday after strong U.S. retail sales data underpinned the resilience of the world’s largest economy, cementing the case that the Federal Reserve still has further to go in tightening rates.

* U.S. retail sales rebounded sharply in January after two straight monthly declines, driven by purchases of motor vehicles and other goods, the U.S. Commerce Department said on Wednesday.

* The greenback surged on the back of the data release and clung to most of those gains on Thursday, with the U.S. dollar index last 0.07% higher at 103.87, after hitting a near six-week top of 104.11 in the previous session.

* British inflation slowed more than expected in January and there were signs of cooling price pressure in parts of the economy watched closely by the Bank of England, data released on Wednesday showed.

* This added to signs that further hefty BoE interest rate hikes are unlikely.

USDINR Outlook

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