US Redbook index (YoY) grows 2.8% in May 5 and (MoM) increases 0.7%

According to Global FX Strategist Sean Callow at Westpac, “A possible peak in NZ economic momentum and record spec long NZD positions in the futures market dovetail with the stronger USD move to knock the kiwi to vulnerable territory. A clear break of 0.8260 could take the pair to the high 0.70s in coming weeks.”