Weekly Forex Report by www.epicresearch.co 25th February 2013

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indore, India (prHWY.com) February 25, 2013 - HEADLINE
In world's currency spat, Britain's pound slides under radar
If there really is a global currency war going on, then Britain might appear to be one of its winners.But unlike Japan, which came in for heavy criticism from other countries for the recent plunge in the yen, the sharp fall in the value of the pound this year has avoided much attention from global policymakers.
Rupee gains on bunched-up inflows; budget, GDP next week
The rupee notched up its biggest single-day gain in three weeks on Friday boosted by inflows delayed by a strike that curtailed trading over the last couple of sessions, but investors were jittery ahead of the crucial 2013/14 budget next week. Investors are focusing on the federal budget, which will be keenly watched to see how Finance Minister P. Chidambaram balances the tightrope walk between fiscal discipline and populist spending ahead of elections in 2014.
US dollar helped by Fed's QE doubts, euro clings to key support
The dollar dangled near a 5-1/2-month high against a basket of currencies on Friday, helped by doubts over just how long the U.S. Federal Reserve will keep its quantitative easing in place. The euro tumbled to a six-week low against the dollar on disappointing euro zone economic data and uncertainty ahead of Italy's election this weekend, though the common currency managed to hold above a key retracement level.
RBI REFERENCE RATE
As on 22 FEBRUARY 2013
UNDERLYING RATE
USDINR 54.4270
EURINR 71.9061
GBPINR 83.2026
JPYINR 58.3400





ANALYSIS
Weekly USD/INR
OPEN: 54.3500
HIGH: 54.5900
LOW: 53.9900
CLOSE: 54.1400
* USD/INR LOOKS SIDEWAYS
* TREND: BULLISH
* STRATEGY: BUY ON DIPS

Weekly EUR/INR
OPEN: 72.4700
HIGH: 72.6300
LOW: 71.3000
CLOSE: 72.3800

* EUR/INR LOOKS SIDEWAYS
* TREND: BULLISH
* STRATEGY: BUY ON DIPS
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