2012.05.02 06:01:03 MARKET TALK: USD/INR Lower; 52.50-52.70 Band Tipped

0401 GMT [Dow Jones] The USD/INR is lower on strong local stocks, but the INR's upside is likely to be limited in the absence of a fresh catalyst, says a dealer with a state-run bank. The USD/INR is at 52.61 vs 52.73 late Monday in Asia. India's financial markets were shut on Tuesday for a local holiday. "Better-than-expected U.S. economic data lifted most Asians stock markets, helping regional currencies. However, we have to see how local stocks behave after Europe opens," he says. The Sensex is up 0.54%. The dealer tips the pair to stay in a 52.50-52.70 band. If the pair falls below this range, it could test 52.38, he adds. (nupur.acharya@dowjones.com) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com (END) Dow Jones Newswires May 02, 2012 00:01 ET (04:01 GMT)