BofA Asia FX and rates strategist Claudio Piron says the Korean won has weakened with recent AI-related equity selling, but Korea’s sizable current-account surplus provides significant structural support for KRW longs. He cautioned the surplus should begin to exert influence and, on the margin, current levels offer an opportunity to build long positions in the won.

2026-11-06

BofA Asia FX and rates strategist Claudio Piron says the Korean won has weakened with recent AI-related equity selling, but Korea’s sizable current-account surplus provides significant structural support for KRW longs. He cautioned the surplus should begin to exert influence and, on the margin, current levels offer an opportunity to build long positions in the won.