Australia dollar (AUD) rose to a two-week highs against the dollar. AUD strengthens for a third day as traders bet that the Reserve Bank of Australia (RBA) will cut its interest rates in the 12 months ahead.

New Zealand currency climbed toward a record against the dollar over optimism that European officials would support further assistance for Greece, encourage the demand for riskier assets.

AUD valued at $ 1,0706 at 10: 08 a.m. in Sydney from $ 1,0683 in New York yesterday after the rise to $ 1,0711, the highest since June 15. Against the Yen, AUD traded at ¥ ¥ 86,29 86,38 from 86,41, and reached the largest since June 6.

New Zealand dollar (NZD) up 0.4% to 82,82 cents us, having reached 82,92 cents, the highest since June 9. NZD rose 0.2% to ¥ 66,83.

The strengthening of both these currencies triggered after PM Greece George Was yesterday won support from budget cuts.

NZD rose against 15 of the 16 major currencies traded over Government report that showed home building approvals rose in may for the second time in three months. Permit increased 2.2 percent after falling a revised 1.2% in April.(RAP)