On November 6, Bank of America noted that buying opportunities have emerged in the Korean won and Taiwan dollar following a selloff in AI-related stocks. Claudio Piron, head of Asia FX and rates strategy in the bank's global research department, said the Korean won and Taiwan dollar have recently weakened alongside AI-related stocks, but the substantial current account surpluses of both economies provide strong support for building long positions. Piron said the Taiwan dollar has the highest correlation with AI-themed ETFs among Asian currencies, and its recent depreciation is more consistent with forced liquidation by investors and squeezed positions than with deteriorating economic fundamentals. Regarding the U.S. dollar, Piron said the "American exceptionalism" narrative that once drove the dollar higher is closely tied to the AI boom, and that narrative has now temporarily faded. He expects USD/KRW to reach 1,330 by year-end, with a target of 1,300 next quarter.