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22 June, 2017 21:53 IST
Sell USD/INR May futures in 64.70-64.80 range: ICICIdirect
Source: IRIS | 12 May, 2017, 09.04AM
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ICICIdirect expects the USD to meet resistance at higher levels. ''Utilise upsides in the pair to go short on the USDINR pair. May futures in the range of 64.70-64.80 with target 64.45-64.35 .''

The rupee posted its biggest single-session gain in four weeks against the USD, as normal monsoon forecast by Indian Meterological Department (IMD) lifted sentiments. Major currencies traded on a mixed note yesterday.

The British pound fell post BoE's monetary policy meeting. BoE's stance on policy over Brexit being dependent on further policy action weighed on pound. Japanese Yen posted gains against USD due to a dent to risk sentiment.

In the currency futures market, the most traded dollar-rupee May contract on the NSE ended at 64.51. The May contract open interest declined 5.07% from the previous day. June contract open interest declined 1.95% in the last session.

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Expert Speak
Sell USD/INR June futures in 64.65-64.75 range: ICICIdirect - 22-Jun-2017 09:01
Markets likely to open flat with positive: Angel Broking - 22-Jun-2017 08:56
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Markets likely to open flat: Angel Broking - 20-Jun-2017 09:01
Sell USD/INR June futures in 64.55-64.65 range: ICICIdirect - 19-Jun-2017 09:08
Markets likely to open positive: Angel Broking - 19-Jun-2017 09:00
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