Asia FX steady as traders assess Fed outlook; rupee hits fresh record low

China's new economic model, characterized by a trade surplus exceeding $1 trillion, poses significant risks to the future of Asia's Gen-Z, as it shifts economic advantages away from the region's youth. This surplus is largely fueled by a weakened renminbi, which has made Chinese exports more competitive globally.

Federal Reserve official Susan Collins indicated her support for a recent interest rate cut, describing the decision as a 'close call.' This statement reflects ongoing deliberations within the Fed regarding the appropriateness of current monetary policy in light of economic conditions.

Global stock markets exhibited mixed performance at the start of the week, with declines noted across Asia while European markets opened higher and U.S. stock futures indicated a modest increase. This reflects ongoing volatility as investors navigate uncertain economic conditions.

Asia's foreign exchange markets remained steady, with a focus on weak economic data from China, while the Japanese yen gained strength amid expectations of a rate hike by the Bank of Japan (BOJ). Investors are closely monitoring these developments as they could influence future monetary policy decisions.