The Rupee opened weaker on Wednesday with the dollar at a more-than-one-year high on Federal Reserve rate ?hike expectations and safe-haven demand. The U.S. ?central bank struck a much more hawkish tone at last week’s policy ?meeting, prompting analysts to revise their rate outlook, shifting from expectations of no ?hikes to pencilling in one or two increases this year. The ?dollar index ?extended its rally with investors seeking shelter from a technology shares sell-off and positioning for potential Fed rate hikes. The index was at 101.44, its highest since ?May last ?year, and is up about 2.5% this month. The U.S. dollar extended gains to reach a fresh 13-month high against a basket of major ?currencies on Wednesday as investors sought shelter from a tech stock sell-off and positioned for Fed rate ?hikes. The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, ?climbed to a high of 101.44, the strongest level since May 13, 2025. The euro last traded at $1.1375 , near a one-year low. The British pound weakened slightly to $1.3199, after Bank ?of England ?policymaker Alan Taylor said an "extended hold" for interest rates was the right response to inflation pressure. The risk-sensitive Australian dollar was steady at $0.6918 ahead of the latest CPI reading later in the day. The New Zealand dollar weakened 0.05% to $0.5665, a fresh seven-month low. The Japanese yen last traded at 161.57 after briefly weakening to a two-year low of 161.93 late ?on Monday as the greenback extended its gains. A break above 161.96 would leave the ?yen at its ?weakest level since 1986. Oil prices fell more than 1% on ?Wednesday, extending this week's losses and trading near four-month lows, on signs that more oil ?tankers stranded in the Gulf are set to move out of the Strait of Hormuz. Brent crude futures fell 78 cents, or 1.0%, at $76.30 a barrel as of 0350 GMT. U.S. West Texas Intermediate slipped 78 cents, or 1.1%, to $72.43 a barrel.......