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
20 August, 2017 15:23 IST
Buy USD/INR July futures in 64.80-64.90 range: ICICIdirect
Source: IRIS | 30 Jun, 2017, 09.04AM
Comments  |  Post Comment

ICICIdirect expects the USD find supports at lower levels. ''Utilise upsides in the pair to go long on the USDINR pair. July futures in the range of 64.80-64.90 with target 65.20-65.30.'' 

The rupee fell to a one-month low against the USD in line with weaker emerging currencies, as domestic dollar demand outweighing broad dollar weakness amid bets European economies were likely to see a rise in interest rates, going ahead.

The USD has breached its crucial support level at 96-level, failing to track rising yields. A sharp appreciation in the Euro and British pound with even some recovery in Japanese Yen weighed on the USD. USD could remain under pressure if US employment data is lower than expected which could weigh on rate hike sentiment.

In the currency futures market, the most traded dollar-rupee July contract on the NSE ended at 64.86. The July contract open interest increased 3.99% from the previous day. August contract open interest increased 8.54% 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
Comment
Security Code type    into this box
Related Articles
Vishal Sikka resigns as MD & CEO of Infosys - 18-Aug-2017 12:12
HDFC Bank revises interest rates on saving bank accounts - 18-Aug-2017 11:42
Srei Equipment Finance plans to dilute upto 25% of capital - 18-Aug-2017 11:36
Power Grid to invest Rs 19.31 bn for power transmission related project - 18-Aug-2017 11:30
Infosys in association with ATP unveils new PlayerZone - 18-Aug-2017 11:26
Raymond acquires Ansel's stake in JV entity 'JK Ansell' - 18-Aug-2017 10:24
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