BAC · News · 20261106N

FX / Currency Impact

BANK OF AMERICA CORP /DE/ · 2026-11-06 · Importance 18 · Surprise 24

Bank of America advised buying the New Taiwan dollar and South Korean won after a recent AI-driven equity sell-off. Its Asia foreign-exchange and rates strategy head, Claudio Piron, said the currencies’ current-account surpluses provide support for long positions despite their recent weakness. He attributed the New Taiwan dollar’s decline to a positioning squeeze rather than fundamental deterioration, citing its strong correlation with AI ETFs.

Key facts

• Bank of America recommended buying the New Taiwan dollar and South Korean won, citing buying opportunities after a recent AI-driven equity sell-off. source
• Bank of America attributed the New Taiwan dollar's drop to a positioning squeeze rather than fundamental deterioration, citing its strong correlation with AI exchange-traded funds. source
• Bank of America said the New Taiwan dollar and South Korean won have substantial current-account surpluses that provide cover for long positions, according to Claudio Piron, head of Asia foreign-exchange and rates strategy. source