The Rupee opened steady on Wednesday from a fall in U.S. yields, though traders said it is unlikely to rise beyond 90.50 per dollar due to persistent importer hedging. The rupee halted a two-day slide on Tuesday after finding support near the 90.70–90.80 region, a level that many traders consider crucial for maintaining the upbeat momentum driven by the U.S.-India trade deal. At the same time, traders pointed to persistent dollar demand from importers looking to hedge liabilities at current levels, with buying interest picking up further whenever the rupee rallies. While the rupee advanced decisively beyond that mark in the immediate aftermath of the U.S.–India trade deal, the move proved short-lived. The currency has been in the 90.04-90.84 range since the deal. The drop in U.S. Treasury yields and a broadly softer dollar are likely to support the rupee at the open. U.S. yields declined on Tuesday after a batch of economic data pointed to a cooling economy, potentially providing the Federal Reserve room to cut interest rates. Retail sales were flat in December, undershooting expectations, while the Employment Cost Index, the broadest gauge of labor costs, rose less than estimated, reflecting softer labor demand. The yen held on to solid gains on Wednesday as investors bet that Prime Minister Sanae Takaichi's landslide election victory puts her in a strong position to pursue more fiscally responsible policies. Elsewhere, the Aussie broke above $0.71 for the first time in three years. The dollar wobbled ahead of the key U.S. non-farm payrolls report due later on Wednesday, after a run of data overnight hinted at a softening in the world's largest economy. The yen was up nearly 0.4% against the dollar at 153.80, building on a 1% rise in the previous session that also saw it rally against other currencies. The euro fetched 183.15 yen after a 1.2% drop on Tuesday, while sterling extended the previous day's 1.3% fall against the Japanese currency and was down 0.28% at 210.00 . The Australian dollar broke above the key $0.71 level on Wednesday for the first time since February 2023. It traded 0.7% higher at $0.7124. A top Australian central banker said on Wednesday inflation was too high and policymakers were committed to doing whatever was necessary to bring it to heel. Ahead of the release, the dollar was on the back foot, with the euro trading 0.14% higher at $1.1912 while sterling similarly rose 0.14% to $1.3661. Against a basket of currencies, the greenback was down 0.27% at 96.66. Oil held steady on Wednesday, finding support as the market waited for direction while U.S.–Iran talks continued, with lingering geopolitical uncertainty helping to underpin prices. Brent crude oil futures were up 23 cents, or 0.3%, at $69.03 a barrel by 0100 GMT. U.S. West Texas Intermediate crude rose 23 cents, or 0.4%, to $64.19.......