Japans sales tax taking a toll- BBH

FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman explained that Japan's retail sale tax increase pulled the rug under the Japanese economy.

Key Quotes

"Unemployment unexpectedly jumped to 3.7% from 3.5%."

"Retail sales rose a miserly 0.4% in June and in Q2 fell an average of 2.9% a month compared with an increase of roughly the same magnitude in Q1. Overall household spending fell 3.0% (year-over-year) after an 8.0% collapse in May."