The Indian rupee is likely to fall further this week, weakening past a psychologically important level, in the wake of an ongoing rally in the U.S. dollar on upbeat economic data, while bond yields could rise,

The Indian rupee is poised to decline against the U.S. dollar at the open on Monday, dipping past the 86 level, after a blowout U.S. jobs report increased the likelihood that the Federal Reserve may not cut rates anytime soon.