On Friday , USDINR opened gap up 22 pips @ 70.24/25.
In early trade , domestic pair seems nervous ahead of important weekend.
We believe that some intervention will be possible.
Derivatives premiums is shooting up indicate uncertainty.
The greenback reached the two-week peak on robust US housing data and a weekly jobless claims report which pointed to sustained labour market strength for the world's biggest economy.
INTRADAY RANGE - 69.75 ( 69.94 - 70.28 ) 70.62
On Thursday, The rupee surged by 31 pips to close at 70.03 against the US dollar amid a sharp rebound in the domestic equity markets, even as oil prices firmed up.
This is the third straight session of gain for the domestic currency, during which it has strengthened by 48 pips.
Interbank market, the rupee opened at 70.27/28 per dollar and advanced to a high of 69.99 during the day.
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