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* US$INR futures continued to decline for most of the week as stronger equities along with weaker dollar index kept pressure on the pair

* The dollar index headed for its first losing week in three as new signs of weakness in the US jobs market dented investor expectations about the pace of economic recovery from the pandemic. The dollar remained on the backfoot after the release of weaker-than-expected weekly US jobless claims data, which added to recent concerns that the dollar's previous rally had priced in too fast a pace of rebound for the US economy

* Therefore, we expect the rupee to appreciate further towards 72.50 level as stronger equities along with weakening dollar index are likely to put further pressure on the pair

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