The Rupee opened under strain on Monday amid broad-based risk-off sentiment, with traders wary of pushing the currency beyond the 92-per-dollar handle due to the possibility of central bank intervention. Indian equities, which were open on Sunday for the budget session, logged their biggest percentage drop on a budget-day trading session in six years, underscoring a bout of local risk aversion. Separately, volatile trading in precious metals drove a broader risk-off move, pulling down Asian shares and U.S. equity futures, before a busy week for corporate earnings, central bank meetings and major economic data. The rupee struggled to weaken beyond 92 per dollar last week, with state-run banks consistently offering dollars at around the level, a pattern traders said pointed to intervention on behalf of the central bank. The official pointed out that the budget is unlikely to reverse the recent spate of equity outflows from India and that Indian bonds are likely to face pressure when markets open on Monday. Overseas investors have sold a record amount of Indian equities, totalling $22.9 billion since 2025, piling pressure on the rupee. The dollar clung to its gains on Monday as investors weighed what a Federal Reserve under Kevin Warsh might look like, with his preference for a smaller balance sheet. The yen was also back on traders' radars, ?after Japanese Prime Minister Sanae Takaichi over the weekend talked up the benefits of a weaker yen in a campaign speech, in a tone at odds with her finance ministry that has worked to stem the currency's declines. While investors think Warsh ?will be inclined to cut rates, they expect him to rein in the Fed's balance sheet, which is ?typically supportive for the dollar as it reduces the money supply in the market. The greenback remained on the front foot in early Asia trade on Monday, leaving the euro firmly away from the $1.20 level as it last stood at $1.1868. Sterling was down marginally to $1.3685, while the ?dollar index steadied at 97.09 after jumping 1% on Friday. The Japanese yen was down 0.14% to 154.99 per dollar on Monday, pressured in part by the dollar's strength and Takaichi's weekend comments which seemed to condone a weaker currency. Still, the ailing yen has found a floor in recent times, as traders remain ?on alert to the prospect of a coordinated currency intervention by the U.S. and ?Japan after talks of rate checks from both sides late last month sent the currency surging. Elsewhere, the Australian dollar fell 0.18% to $0.6951. The Reserve Bank of Australia sets rates on ?Tuesday, with expectations it will deliver a hike. The New Zealand dollar dipped slightly to $0.6019. Oil prices fell 4% on Monday as U.S. President Donald Trump said over the weekend Iran was "seriously talking" with Washington, signalling de-escalation with an OPEC member after risks of a military strike drove prices to multi-month highs. Brent crude futures were down $2.81, or 4.1%, to $66.51 per barrel at 0325 GMT. U.S. West Texas Intermediate crude fell $2.70, or 4.1%, to $62.51 per barrel.......