The New Zealand dollar rose to around $0.580, advancing for a fourth straight session as broader risk appetite improved. Concerns over a wider geopolitical escalation appeared to ease following the US attack on Venezuela, supporting the risk-sensitive currency. Additional support came from a pullback in the US dollar after a disappointing manufacturing survey. Meanwhile, investors continued to assess the potential timing of interest rate hikes by the Reserve Bank of New Zealand. Policymakers have signalled that the easing cycle likely ended last year after 225 bps of cuts, while also pushing back against near-term hike expectations. Governor Ann Breman has indicated rates are likely to remain on hold for an extended period, barring surprises. As a result, markets are pricing less than a 50% chance of a hike before September and increasingly favouring an October move.