The Chinese yuan appreciated slightly on Friday, while the Indian rupee rose. For their part, the Australian and New Zealand dollars are expected to rise on a weekly basis. The US dollar is weakening.

The Chinese yuan appreciated slightly in the face of a weakening US dollar on Friday, as President Xi Jinping's call for greater efforts to reach Beijing's annual economic growth target raised expectations for news stimulus measures. At 02:54 GMT, the onshore yuan was up 0.13% to 7.1081

The Indian rupee rose on Friday and dollar-rupee term premiums climbed due to renewed hopes of a 50 basis point rate cut by the Federal Reserve next week, which also helped support most Asian currencies. The rupee was up 0.05% at 83.9250 at 10:20 AM IST, compared to closing at 83.9650 in the previous session

Australian and New Zealand dollars were heading for weekly gains on Friday after a rally in stocks and commodities, while rekindled bets on a disproportionate drop in US rates next week also weighed on the greenback. The New Zealand dollar rose 0.1% to $0.6185, after also rebounding

The dollar weakened on Friday, while the euro and yen were up, with investors remaining on their guard ahead of next week's central bank meeting, where the focus will be on the Federal Reserve and the extent of its expected interest rate cut.