ICICIdirect expects the US dollar 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 64.77-64.87 with target 64.55-64.45.'' 

The rupee rose to a one-week high vs. the USD, amid steady gains in domestic equities and soft USD against euro and the British pound. The USD gained mildly against major currencies on the back of betterthan-expected June non-farm payrolls data. June rolls were at 222000 rolls against previously 138000 rolls.

However, unemployment rate to increased to 4.4% from 4.3%. Japanese Yen continue to lose against USD on the back of widening divergent monetary policies.

In the currency futures market, the most traded dollar-rupee July contract on the NSE ended at 64.75. The July contract open interest increased 0.84% from the previous day. August contract open interest declined 1.21% in the previous session.

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