The New Zealand dollar rose to around $0.575 on Friday and is on track for a weekly advance, supported by upbeat manufacturing data. The BusinessNZ PMI showed that the country’s manufacturing activity in December grew for the sixth consecutive month and at the fastest pace since December 2021. The report followed data showing that filled jobs hit an eight-month high in November, while fourth-quarter business confidence surged to its highest level since 2014. These indicators boosted expectations for a rate hike later this year, with traders implying a 57% probability of an increase in September, with a move fully priced in by October. However, markets see almost no chance of a change in the 2.25% cash rate at the Reserve Bank of New Zealand’s February meeting. For the week, the kiwi has risen 0.5%, poised to end a two-week losing streak.