At 85.2/$, Re hits 1-mth high on US trade deal hopes

MUMBAI: The rupee touched its strongest level in a month on Thursday, lifted by dollar sales from foreign banks and cutting of bearish bets on the local currency, while optimism surrounding a US-India trade deal also aided sentiment.The rupee rose to a peak of 85.2 against the dollar, its best level since late May, before ending the session at 85.31, up 0.4% on the day. Dollar sales from foreign banks in the latter half of Thursday's session boosted the rupee Traders reckon a trade deal with India could push the rupee above 85. (This is a Reuters story)