Sell USDINR; target of 67.60 - 67.40: ICICI Direct ICICI

 Direct expects US dollar to meet supply pressure at higher levels. Utilise upsides in the dollar to go short on the USDINR. Sell February Futures with a target of 67.60 - 67.40. (more) , ICICIdirect.com | ICICI Direct's report on currency Debt market   Government bonds ended largely unchanged, as investors held back  purchases awaiting cues on the country’s fiscal consolidation roadmap  in the Union Budget today  • The benchmark 6.97% 2026 bond yield was steady at 6.41% as traders  remain wary ahead of the Budget today  

• Yield on the US 10-year fell to at 2.45% from 2.49% in the previous day.   Forex (US$/INR)   The rupee posted further gains as the US$ continued to get hammered against most currencies. The rupee is expected to remain volatile today due to the Union Budget being presented by Finance Minister • The US$ continued to slide against most currencies. Major pairs also gained as the dollar remains subdued due to headwinds created by the US president’s executive orders.   US$/INR derivatives strategy   In the currency futures market, the most traded dollar-rupee February contract on the NSE ended at 68.07. The February contract open interest fell 2.17% from the previous day • March contract open interest rose 16.20% from previous day • We expect the US dollar to meet supply pressure at higher levels. Utilise upsides in the dollar to go short on the US$INR pair

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