The Indian rupee opens flat on Thursday, with traders looking to Jio Platforms IPO flows and positioning for direction while oil prices remain a risk. The currency is on an eight-session winning streak, climbing from around 96.60-96.70. A series of measures by the Reserve Bank of India coupled with active intervention and flows related to the Jio Platforms IPO on Wednesday have lifted the currency to its highest level since the first week of September.The unwinding of positions, particularly in the non-deliverable forward market, has further fueled the rupee's rally. While the currency's current levels offer importers an attractive opportunity to buy dollars amid high oil prices, expectations of continued RBI intervention and supportive flows over the next two to three days adds caution about rushing in. A downdraft in the dollar took a pause on Thursday as investors began hunkering down ahead of a slew of central bank meetings next week, where hawkish holds are expected on interest rates in Japan, the US and Europe. Recent gains for sterling and currencies in Canada, Australia and New Zealand, all of which have lately touched their highest on the dollar in several weeks, suggest dollar bets have been pared a bit, though moves on Thursday were slight. Sterling , which hit a one-month high of $1.3409 earlier in the week, has been supported hotter-than-expected British inflation and held at $1.33955. The Australian dollar , which made a three-week top on Wednesday, is hanging on above 70 US cents at $0.7025, while expectations for a rate hike next week in New Zealand hoisting the kiwi to a one-month high of $0.5709. The Bank of Canada is also expected to hike next week and the loonie was supported near a one-month top of C$1.4032 per dollar. The euro and yen have settled into tight ranges, with the threat of intervention and prospect of rate hikes holding Japan's currency around 158 to the dollar . The euro has spent about a month on the slide, emerging as a favoured channel for putting a bet on a stronger dollar, as fiscal concerns in France and Europe's energy fragility attract short sellers. The European Central Bank is expected to hold its benchmark rate at 2.5% next week, though a hike is all but priced in before the year's end. Markets have priced a hold in Tokyo, too, with the next hike — to 1.5% — expected early next year. Brent crude futures were up 1.6% at $110.6 per barrel as more attacks in Saudi Arabia by Yemen's Houthis prompted the United States to order some diplomats and family members to leave its missions in the kingdom. US West Texas Intermediate crude gained 97 cents, or 1%, to $98.12. Brent had settled largely unchanged on Wednesday, while WTI had eased 67 cents. Higher oil prices are a negative for India, which imports the bulk of its energy requirements, as they can increase inflation, strain its fiscal deficit and hit corporate profits. Gold fell more than 1% on Thursday as rising oil prices stoked inflation concerns and reinforced expectations that interest rates could stay higher for longer, while investors awaited next week's Federal Reserve meeting for clues on the policy outlook. Spot gold slid 1.1% to $4,094.90 per ounce by 0333 GMT, hitting its lowest since October 14. US gold futures for December ?delivery dropped 0.9% to $4,111.40. If oil prices continue to rise, inflation expectations could increase, raising the likelihood of higher interest rates over the longer term and weighing on gold. Spot ?gold still targets the October 14 low of $4,073 per ounce, as suggested by a wedge. Resistance is at $4,135, a break above which could lead to a gain into the $4,150-$4,169 range. Among other metals, spot silver dropped 2.6% to $56.44 per ounce, platinum slid 2.1% to $1,594.25 and palladium fell 2.6% to $1,059.05. www.eforexindia.com......