The Rupee stronger on Monday as traders weigh the durability of the Middle East ?ceasefire while questioning how much further the currency's recent rally ?can extend. The currency has recovered ?notably from its all-time low of 95.21 on March 30, ?supported largely by steps taken by the Reserve Bank of ?India. The central bank has clamped down on arbitrage trading by banks ?and corporates and has urged state-run oil refiners to limit dollar purchases ?in the spot market, helping drive the rupee's rebound. A slowdown in foreign equity outflows has also lent support. Traders are cautious about further upside on the currency. Volatile ?oil prices, weak capital flows, and steady hedging interest from importers ?are seen as constraints. Oil prices jumped on Monday, recovering a large part of losses in the previous ?session, on concerns ?that the ceasefire ?between the United States and Iran might not hold. Tensions increased after the U.S. said it had seized an Iranian ?cargo ship accused of breaching its blockade, prompting threats ?of ?retaliation from Iran. Tehran also said it will not participate in a second round of negotiations that Washington had hoped to begin before the ceasefire deadline ?on ?Tuesday. Oil prices jumped on Monday, recovering a large part of losses in the previous ?session, on concerns ?that the ceasefire ?between the United States and Iran might not hold. Tensions increased after the U.S. said it had seized an Iranian ?cargo ship accused of breaching its blockade, prompting threats ?of ?retaliation from Iran. Tehran also said it will not participate in a second round of negotiations that Washington had hoped to begin before the ceasefire deadline ?on ?Tuesday. The euro last bought $1.1757 after hitting a one-week low of $1.1729 earlier in the session, ?while sterling was 0.11% lower at $1.3503. The risk-sensitive Australian dollar fell 0.17% to $0.7155. The dollar index , which measures the U.S. currency against six peers, was at 98.30, hovering near its highest in a week and recouping some of its recent losses. The index is down 1.5% in April amid rising risk appetite on hopes for a peace deal. The index ?had surged 2.3% in March on haven demand after the war broke out. The United States has maintained a blockade of Iranian ports, while ?Iran has lifted and then reimposed ?its own blockade on marine traffic ?passing through the crucial waterway. That spurred a rebound in oil prices on Monday. Brent crude futures jumped over 5% to $95.2 a barrel and U.S. West Texas Intermediate was at $88.99 a barrel, up over 6%. The New Zealand dollar eased slightly to $0.5876. The yen weakened to 159.06 per dollar, just shy of the crucial 160 level that ?traders worry ?could lead to intervention to support the Japanese currency. The market's focus will also be on ?the Bank of Japan meeting later this month. Governor Kazuo Ueda has refrained from pre-committing to an April rate hike with the war muddling the outlook, but he left a few ?hawkish signs after last week's IMF meetings, suggesting tighter policy by June. Gold prices fell on Monday as the dollar firmed, ?while news the Strait of Hormuz is closed again pushed oil prices higher and revived inflation fears. Spot gold was down 0.7% at $4,793.98 per ounce, as of 0351 GMT, after hitting its lowest level since April ?13 earlier in the session. U.S. gold futures for June delivery fell 1.4% ?to $4,813.60.......