The Rupee opened weak but the Indian rupee will regain some lost ground against the U.S. dollar over the next three months, according to a Reuters poll of FX strategists, but a reversal in the currency's fortunes hinges upon India and the U.S. agreeing to a trade deal. U.S. President Donald Trump's punitive 50% tariffs on Indian goods has soured sentiment among foreign investors, who have sold around $17 billion of Indian equities so far this year, pushing the rupee to record-low levels. The currency is down nearly 5% for the year against the greenback. Between foreign investors' reluctance to enter Indian equity markets without a U.S.-India trade deal and the RBI's tight leash on the rupee, the currency is expected to move in a narrow range in the near term. The partially convertible rupee was forecast to rise nearly 1.1% from current levels to 88.91 per dollar by end-February 2026, and then be marginally stronger at 88.83 by end-May, according to the median view of 37 forex analysts polled between December 1-3. The U.S. dollar was soft on Thursday after lacklustre economic datacemented the case for a rate cut from the Federal Reserve next week, providing relief to the yen and pushing the euro to its highest level in nearly seven weeks. Investors have also been weighing the prospect of White House economic adviser Kevin Hassett taking over as Fed Chair after Jerome Powell’s term ends in May. He is expected to push for more rate cuts. Traders are pricing in an 89% chance of a quarter-point rate cut next week, CME FedWatch showed, with an expected 89 basis points of easing by the end of next year. Analysts are sceptical about how long and deep the easing cycle would be. Still, the dollar index , which measures the U.S. currency against six rivals, was at 98.919, languishing near a five-week low. The index is down nearly 9% for the year. The euro was steady at $1.1674 in Asian hours after breaching the highest level since October 17 in the previous session as data showed business activity in the euro zone expanded at its fastest pace in 30 months in November. The currency is up over 12% this year, on pace for its biggest annual gain since 2017, benefiting from a weak dollar due to tariff uncertainties earlier in the year and lately rising odds of U.S. rate cuts.The European Central Bank is due to meet in two weeks and is broadly expected to stand pat on rates, with markets pricing in only a one-in-four chance of any easing next year. The yen was little changed at 155.18 per U.S. dollar as worries of intervention by Tokyo authorities eased slightly, even though Japanese bonds have sold off this week on fiscal worries over a massive spending plan from Prime Minister Sanae Takaichi. Sterling was at $1.33425, hovering near its highest point since October 28. The Australian dollar last fetched $0.66075, while the New Zealand dollar was at $0.5774. Both were trading near their highest levels in more than a month. Oil prices moved slightly higher on Thursday after Ukrainian attacks on Russia's oil infrastructure signalled potential supply constraints, and stalled peace talks tempered expectations of a deal restoring Russian oil flows to global markets, though weak fundamentals kept gains limited. Brent crude rose 14 cents, or 0.22%, to $62.81 by 0102 GMT, while U.S. West Texas Intermediate rose 16 cents, or 0.27%, to $59.11.......