The forex trading headlines for Asia trading today: Tuesday August 13, 2013

USD/JPY traded through 97.00 in late US/early Asian trade. After trading higher news hit the wires that Nikkei had a headline saying Japan was considering cutting the corporate tax rate (see bullets, above). USD/JPY topped out ahead of 97.50 and settled around 97.20.

AUD and NZD lost ground in the morning, continuing their drifts lower from the US session. Australian data today had little impact. AUD found support ahead of bids at 0.9100, while the kiwi found bids under 0.7975.

EUR and GBP drifted sideways to a fraction lower, both ticking higher over the Tokyo lunch time to gain 20-odd points from their lows.