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Currency Outlook:

Rupee Outlook:

* Rupee continued to trade in thin range on Tuesday as most investors remained cautious ahead of two key events this week. The rupee ended at 83.11 on Tuesday against its previous close at 83.14.

* Rupee is likely to remain in the range of 83.00-83.25 ahead of two events this weeks. The FOMC meeting along with annual budget would bring volatility in the currency market. The Fed is likely to hold the rates steady but it may give any indication on timing of rate cuts this year. Meanwhile, investor will also keep an eye on US job opening numbers this week. USDINR Feb is likely to consolidate in between 83.05-83.30. Only above 83.35 it would open the doors towards 83.45. On the other hand a move below 83.05 would weaken towards 82.80 mark.

Euro and Pound Outlook:

* Euro rose by 0.09% on Tuesday Monday amid improved Eurozone economic numbers. The Q4 GDP numbers revised upwards to 0.1% against previous record of -0.1%. EURUSD is likely to find support near 1.0810 and ebound towards 1.0880 on expectation of better retail sales number and sticky inflation numbers in Germany. EURINR February is most likely to move towards the higher band of the trading range of 90.00 - 90.70. Above 90.70, it would test 91.00 mark.

* Pound moved lower on Tuesday amid decline in UK treasury yields, as investors await key BOE policy this week.. The pair is expected to consolidate in the band of 1.2660 and 1.2750 before the outcome of the policy. Further, expectation of no rate cuts by the BOE in the first half of the year would support the pair to trim its earlier losses and push the pair again towards 1.2750. GBPINR is likely to hold the support of 105.30 and move towards 106.00.

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