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MELBOURNE, Oct 3 (Reuters) - Australian shares edged up to a14-month closing high on Wednesday as banks and broader stockswere boosted by an interest rate cut and the local dollarweakened,

enhancing export prospects. The benchmark S&P/ASX 200 index closed up 0.1percent, or 5.6 points, at 4,438.6, its strongest finish sinceAugust 1, 2011. The index had pushed up to 4,454.6

in morning trade, but wasknocked lower after Australia's trade deficit blew out to itswidest in three-and-a-half years on falling prices for iron oreand coal, hurting mining stocks. New

Zealand's benchmark NZX 50 index rose 0.5percent to 3,889.6 points, its highest since January 2008. (Reporting by Miranda Maxwell; Editing by Richard Pullin)

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