WPAC like the New Zealand dollar against the USD.

  • stop level 0.6950 (and will trail)
  • target 0.7300 and see 0.7465 by year-end.

WPAC cite

  • yesterday's strong jobs data,
  • a cemented in August rate hike from the Reserve Bank of New Zealand

Note that main risk is a stronger USD and note the more hawkish comments from Clarida on Wednesday US time.