The New Zealand dollar traded around $0.581, retreating from a three-month high, as investors continued to gauge the potential timing of rate hikes from the Reserve Bank. The central bank has recently signaled that interest rates are likely to remain at current levels for some time, pushing back expectations of a near-term hike. However, this view was challenged by the latest GDP data showing a rebound in Q3, reinforcing earlier signs of economic momentum after a prolonged period of weakness. As a result, markets are now pricing in around a 45% chance of a rate hike by July, with a move fully priced in by October. Elsewhere, a softer US dollar provided some support as markets continued to price in further Federal Reserve rate cuts next year. The antipodean currency is heading for its best month since June and is on track for an annual gain of nearly 4%, snapping a four-year streak of declines.