BofA Sees Buy Opportunity in KRW, TWD After AI Selloff

Cointime reports: Bank of America said the Korean won and Taiwan dollar have emerged as buying opportunities after a selloff in AI-related stocks, head of Asia FX and rates strategy at BofA Global Research. Piron said large current-account surpluses in both economies offer “strong support” for long positions, and that the Taiwan dollar’s high correlation with AI exchange-traded funds means its recent weakness reflects forced unwinding rather than deteriorating fundamentals. BofA targets USD/KRW at 1330 by year-end and 1300 next quarter.