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Goldman Sees Stocks Rotation Hurting Won, Taiwan Dollar, Ringgit

  • Growth stocks selloff, slowing Asian economies may drag FX
  • Aussie among preferred FX amid growth-to-value stock rotation
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Has the Buck Stopped Here?

Goldman Sachs Group Inc. warned that the South Korean won, Malaysia’s ringgit and the Taiwan dollar could weaken if growth stocks continue to slide.

The underperformance of growth stocks coincides with weaker tech-centric emerging market currencies when risk sentiment is less favorable, the bank’s New-York based strategist Karen Reichgott Fishman wrote in a note.