The Australian and New Zealand dollars are concluding the year with solid gains against the U.S. dollar, driven by expectations of future interest rate hikes. The Australian dollar has seen a significant rise, nearing a 14-month high, with speculation that the Reserve Bank of Australia might increase rates soon due to hot inflation readings. Markets are pricing in a chance of a February hike, though future decisions depend on upcoming inflation data. The New Zealand dollar has also gained, though more modestly, following recent rate cuts.