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21 June, 2018 04:12 IST
Sell USD/INR March futures in 67.05-67.15 range: ICICIdirect
Source: IRIS | 07 Mar, 2017, 09.03AM
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ICICIdirect expects the US dollar to meet resistance at higher levels. ''Utilise upsides in the dollar to go short on the USDINR pair. March futures in the range of 67.05-67.15 with target 66.80-66.70.''

The rupee rose against the dollar, along with most Asian currencies, as the USD slipped on profit booking amid strength in domestic equities on easing concerns of foreign fund outflows.

The USD ended with mild gains against major currencies as US March interest rate market implied probability rise to almost 96%. The British pound continued to slide as the UK looks to trigger Article 50 by March end. The USD will take cues from upcoming US February employment data report to be released on Friday.

In the currency futures market, the most traded dollar-rupee March contract on the NSE ended at 66.90. The March contract open interest rose 1.05% from the previous day. April contract open interest rose 7.31% from the previous day.

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