The Rupee opened weaker on Tuesday, with upbeat comments from U.S. President Donald Trump on a potential trade deal lending support, though a mostly firm dollar and hedging demand are expected to hinder. Trump said the U.S. is near to reaching a deal with India that would deepen economic and security ties between the two countries, adding that Washington will lower tariffs on Indian goods “at some point.” The rupee’s muted reaction to Trump’s comments, according to a currency trader, stems from repeated instances of similar upbeat remarks and reports of an imminent deal. The prolonged absence of a trade agreement between India and the U.S. has weighed on sentiment toward the rupee, with bankers citing it as one of the key factors behind the currency’s underperformance this year. Another currency trader said recent price action shows that dips in the dollar/rupee pair have been short-lived due to consistent hedging demand, which may explain the subdued reaction. The trader addiitonaly pointed to weakness in other Asian currencies. The dollar index inched up while Asian currencies dropped with traders watching whether U.S. lawmakers can reach a deal to resolve the federal shutdown. The U.S. Senate on Monday approved a compromise that would halt the longest shutdown in U.S. history. It next heads to the Republican-controlled House of Representatives, where Speaker Mike Johnson has said he would like to pass it as soon as Wednesday. The safe-haven yen hit its lowest since February on Tuesday while riskier currencies were firm against the dollar, as traders anticipated an end to the U.S. government shutdown in coming days. The euro was steady at $1.1555 and sterling has been creeping higher to $1.3165. A gain of about 0.7% for the Australian dollar to $0.6536 and a drop in the yen have been the biggest moves since a breakthrough Senate vote on Sunday. Analysts said the moves could be vulnerable to reversal if the path to inking the shutdown deal dragged much beyond this week. The New Zealand dollar has been under pressure for months as the economy slows and had on Tuesday hit a 12-year low against the Australian dollar , reflecting a divergent outlook for interest rates in the Antipodes. Oil prices dipped in early Asian trade on Tuesday, trimming gains from the previous session as oversupply concerns outweighed optimism over a potential resolution to the U.S. government shutdown. Brent crude futures fell 13 cents, or 0.2%, to $63.93 a barrel by 0100 GMT. U.S. West Texas Intermediate crude was at $60 a barrel, also down 13 cents, or 0.2%.......