Bank of America: After the sell-off of AI, there are buying opportunities for the Korean won and New Taiwan dollar
2026-11-06 15:59:28
According to CoinMeta, recently Claudio Piron, head of Asian foreign exchange and interest rate strategy at the Global Research Department of Bank of America, stated that after a sell-off in stocks related to artificial intelligence, buying opportunities have emerged for the Korean won and the New Taiwan Dollar. Piron noted that both the Korean won and the New Taiwan Dollar have weakened recently along with stocks related to AI, but the considerable current account surpluses in these two regions provide "strong support" for investors to take long positions. He also mentioned that the New Taiwan Dollar is the Asian currency with the highest correlation with AI exchange-traded funds (ETFs), so its recent depreciation is more in line with investors being forced to close their positions and their positions being squeezed, rather than a deterioration in economic fundamentals. Speaking about the trend of the US dollar, Piron said that the narrative of the "American exception" that once drove the strength of the US dollar is closely related to the AI craze, and this narrative has currently subsided temporarily. He expects the exchange rate of the US dollar against the Korean won to reach 1330 by the end of this year, with a target of 1300 for the next quarter.
Source:Jin10 Data
This content is for market information only and does not constitute investment advice.
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