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The New Zealand dollar might also be about to turn a corner.

New data suggests New Zealand's economy is starting to improve, lowering the odds of another interest rate cut at the Reserve Bank of New Zealand (RBNZ).

Fading odds of another rate reduction mechanically plug into a stronger Kiwi dollar.

"NZD is a G10 outperformer amid continued signs that the economy may be turning up faster than the RBNZ had expected," says Noah Buffam, a strategist at CIBC Capital Markets.

The New Zealand manufacturing PMI rose to 51.4 from an upwardly revised 50.1, as New Zealand recovers from prior weakness.

Business NZ says the survey confirms emerging "signs of life" as four of the five sub-index values were in expansion during October, led by New Orders (54.9), which showed i

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