Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
26 June, 2018 00:31 IST
Sell USD/INR June futures in 64.55-64.65 range: ICICIdirect
Source: IRIS | 19 Jun, 2017, 09.08AM
Comments  |  Post Comment

ICICIdirect expects the USD to find resistance at higher levels. ''Utilise upsides in the pair to go short on the USDINR pair. June futures in the range of 64.55-64.65 with target 64.30-64.20.'' 

The rupee posted its first weekly loss in four weeks against the USD, as expectation of a third interest rate increase in the US this year remained firm after the just concluded Fed Monetary meeting. The USD fell against major currencies as dollar gains over Japanese Yen were more than offset by losses in the British pound and Euro.

JPY fell sharply against most majors as the BoJ maintained its easy monetary policy leading to further widenig policy divergence between BoJ and other major central banks.

In the currency futures market, the most traded dollar-rupee June contract on the NSE ended at 64.52. The June contract open interest declined 13.45% from the previous day. July contract open interest increased 2.60% in the previous session.

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.

Comments Post comment 
 Post Comment
Name Email
Security Code type    into this box
Expert Speak
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer