Asian Currencies Poised to Benefit as Stocks Hit 7-Week Highs

The U.S. Federal Reserve is expected to cut interest rates, benefiting some Asian currencies like the Chinese yuan, Indian rupee, and Korean won. The yuan is expected to stabilize due to fiscal stimulus and credit growth in China, while the rupee could benefit from carry trades and a slower pace of monetary policy loosening by the Reserve Bank of India. South Korea's won is also expected to benefit from the Fed's easing cycle and improved economic prospects.