The Rupee opened steady but is likely to struggle to sustain its move past the 90-per-dollar mark on Thursday, with dollar strength and hedging demand weighing on the currency. The rally was largely intervention-driven, with aggressive dollar selling by the Reserve Bank of India, resembling a strategy it deployed multiple times in 2025 to break one-way moves. Bankers said that after the rupee rose past 90 per dollar, there was a noticeable pickup in hedging activity from importers, alongside renewed interest in building long dollar positions, with the move seen offering more attractive levels instead of signalling a shift in the underlying trend. The rupee faces mild headwinds from a firmer dollar index, with most Asian peers weaker amid a tepid risk backdrop. U.S. data out on Wednesday was mixed. The U.S. labour market remained subdued, data showed, with job openings falling more than expected in November and hiring easing. At the same time, services activity picked up unexpectedly in December, suggesting the economy finished 2025 on a firmer footing. The services data beat all expectations for December and was remarkably robust, ING Bank said in a note, highlighting that the reading was the highest since October 2024. The dollar was calm on Thursday as investors weighed a slew of data that showed the U.S. economy was in a delicate position ahead of a crucial jobs report on Friday, with rising geopolitical tensions keeping sentiment in check. The euro was steady at $1.1678 in early Asian hours, on course for a small weekly drop, while sterling bought $1.34605. The yen was flat at 156.78 per U.S. dollar as traders remained reluctant in placing major bets. The Australian dollar fetched $0.6721, just below the 15-month high it touched earlier this week, while the New Zealand dollar was little changed at $0.5769. The services sector activity though unexpectedly picked up in December, suggesting the economy ended 2025 on a solid footing. The spotlight will now be on the closely-watched nonfarm payrolls report due on Friday. Traders are pricing in at least two rate cuts from the Federal Reserve this year, although a divided central bank indicated in December just one more cut for 2026. Markets broadly expect the Fed to stand pat on rates in January. The dollar index , which measures the U.S. currency against six rivals, was steady at 98.737 and set for a small gain for the week. The dollar is coming off its worst annual performance since 2017, with analysts predicting another year of decline, albeit a more modest drop. Markets have mostly taken in stride the geopolitical worries across the globe after the U.S. intervention in Venezuela and the rising tensions between China and Japan this week, with currencies mostly calm through the week. Oil prices steadied on Thursday after their recent slide, while stocks were off to a rocky start as investors assessed the implications of deepening geopolitical tensions and mixed U.S. labour market data. Oil prices have slid this week on the prospect of higher Venezuelan crude output, though they recovered on Thursday, with U.S. crude rising 0.7% to $56.38 a barrel, while Brent crude futures advanced 0.68% to $60.37 per barrel.......