The Indian rupee continues to stay under pressure in opening trades on Wednesday as crude oil prices hover near a two-month high. However upbeat local equities and slight weakness in dollar overseas is likely to keep the counter supported. US treasury yields and dollar pulled back following dovish remarks by Fed chair Powell. Powell stated on Tuesday that the US is progressively slowing, but more data is needed before cutting rates to confirm that recent lower inflation readings accurately reflect the economy. Currently, dollar index futures are staying flat at 105.40. Yesterday, rupee depreciated 6 paise to settle at 83.50 against the US dollar. The benchmark S&P/BSE Sensex swung between gains and losses before ending the session down 34.74 points at 79,441.45. The broader NSE Nifty index also fluctuated before settling at 24,123.85, down 18.10 points from its previous close.