The Indian rupee slipped on Wednesday as oil prices remained on the boil, keeping up pressure on local assets while the central bank likely intervened to contain the currency's weakness. The rupee closed at 95.2200 per dollar, compared with the previous session's close of 95.1150. Given the uncertainty surrounding the future path of oil prices and their potential impact on India's economy, bearish sentiment toward the rupee has intensified. A key gauge in the options market indicates a growing skew in favour of bets on rupee weakness, compared with positions anticipating a rally in the currency. The US dollar held onto gains on Wednesday after reaching a two-week high ahead of the Federal Reserve’s interest rate decision, while sterling investors awaited the Andy Burnham government's first budget, hoping it would avoid a heavy reliance on borrowing. The week is packed with monetary policy decisions by central banks globally as policymakers weigh the path ahead for interest rates against the backdrop of price pressures due to the Middle East conflict and ballooning sovereign debt costs. The euro was flat at $1.1126, trading just above the May 2025 low it hit earlier this month, while against the yen , the dollar was steady at 157.89 yen. The Canadian dollar inched up 0.1% to C$1.403 per US dollar. Sterling dipped against the euro and the dollar on Wednesday ahead of a highly anticipated budget announcement that will detail how Prime Minister Andy Burnham's government plans to address the country's fiscal needs without rattling the bond market. The pound eased 0.1% to a more than one-week low of $1.329, while it was also off 0.1% against the euro , at 83.7 pence. The single European currency hit its lowest since May 2025 against sterling on Tuesday. Oil prices rose over 1% on Wednesday after an attack on a refinery in Saudi Arabia, the world's top crude exporter, renewed concerns about supply risks due to the conflicts in the Middle East. Brent crude futures rose $1.31, or 1.2%, to $115.19 a barrel as of 1115 GMT. US West Texas Intermediate crude gained $1.75, or 1.8%, at $101.65. Crude oil exports from Russia's Baltic and Black Sea ports could fall next month as domestic refiners increase diesel output following a deal with Washington this month. Gold prices edged lower on Wednesday as inflation worries simmered over high oil prices, while investors awaited the Federal Reserve's policy decision later in the day. Spot gold edged 0.2% lower $4,050.55 per ounce by 1249 GMT. U.S. gold futures for December delivery fell 0.2% to $4,064.60 per ounce. Analysts cut their 2026 gold price forecast for a second straight quarter due to high Treasury yields, a strong US dollar and expectations that rates will stay higher for longer, but still expect a recovery in 2027. Among other metals, spot silver fell 0.5% to $54.09, platinum rose 0.1% to $1,542.22, and palladium dropped 0.4% to $1,022.44. www.eforexindia.com......