A$, NZ$ rise on upbeat Asian economic surveys

London

THE Australian and New Zealand dollars gained strongly on a handful of upbeat Asian economic surveys on Tuesday as their US counterpart struggled in the face of concern around next week's presidential election.

A relatively upbeat statement from the Reserve Bank of Australia (RBA) quashed any expectations of a near-term cut in interest rates and reduced the prospects of one next year, fuelling an almost one per cent rise for the Aussie.