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20 November, 2017 22:53 IST
Sell USD/INR July futures in 65-65.10 range: ICICIdirect
Source: IRIS | 05 Jul, 2017, 08.52AM
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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 65.00-65.10 with target  64.75-64.65.'' 

The rupee posted its biggest single-day rise in five weeks against the dollar, amid expectation of relative smooth roll out of GST reform than expected along with muted movement in USD.

The USD overall remains in range as Gains against Euro and GBP were offset by losses against Japanese Yen. Rising risks through North Korea has led to gains in safe haven currencies like JPY. Host of central bank meeting this month could keep Forex market on edge.

In the currency futures market, the most traded dollar-rupee July contract on the NSE ended at 64.95. The July contract open interest fell 3.89% from the previous day. August contract open interest increased 1.72% in the previous session.

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