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27 April, 2018 04:05 IST
Sell USD/INR July futures in 64.70-64.80 range: ICICIdirect
Source: IRIS | 11 Jul, 2017, 09.05AM
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ICICIdirect expects the US dollar to meet supply pressure at higher levels. ''Utilise upsides in the pair to go short on the USDINR pair. July futures in the range of 64.70-64.80 with target 64.50-64.40.'' 

The rupee rose to a near two-week high against the USD, as strength in domestic equities boosted expectations of foreign fund inflows. The USD was almost unchanged as forex moves remained muted ahead of central bank meetings.

Japanese Yen continue to remain weak as the focus remains on today's five-year debt auction. The 10-year JGB yields testing 0.10 yield has led to BoJ buying bonds that has weighed on Yen.

In the currency futures market, the most traded dollar-rupee July contract on the NSE ended at 64.68. The July contract open interest increased 0.33% from the previous day. August contract open interest declined 0.97% in the previous session.

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