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27 April, 2018 03:59 IST
Sell USD/INR July futures in 64.97-65.07 range: ICICIdirect
Source: IRIS | 07 Jul, 2017, 08.57AM
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ICICIdirect expects the USD 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 64.97-65.07 with target 64.74-64.64.'' 

The rupee was flat against the dollar, as gains from strong domestic equities were offset by caution ahead of US June employment data. The USD fell against major economies as gains against Japanese yen were outweighed by losses against the euro and British pound. The ECB meeting account showed lowered risks from deflation and, hence, supported German Bunds.

Japanese Yen weakened on expectations of BoJ buying from open market as 10-year JGB yields have almost breached 0.10% on the higher side. In the currency futures market, the most traded dollar-rupee July contract on the NSE ended at 64.95. The July contract open interest declined 2.16% from the previous day. August contract open interest increased 1.70% in the previous session.

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