Today's initial rise to 88.85 (NZ) confirms the erratic rise from the 7-month low of 86.96 remains in progress and gain to 89.25 is likely after minor consolidation, loss of monentum should cap dollar below 89.46 and risk has increased for a strong retreat later.    On the downside, only below 88.71 would signal a top is made and yield weakness toward 88.35/40.