The rupee traded weak, dropping by more than 0.25rs to below 83.37, as the dollar index rallied above 104.08$. This added pressure on the rupee following a positive gap up opening witnessed yesterday at 83.05. The rupee has fallen sharply by more than 0.30rs from its high of 83.05 over the last two days. Despite the dovish view on interest rates in the US, specific data-driven interest rate cuts are still distant. The rupee's range can be expected to be between 82.85-83.55, with volatility likely to persist.