Is the Dollar Resting, or Nailed to Its Perch?
John Cleese's dead parrot famously wouldn't voom if you put 4,000 volts through it. Similarly, the dollar at present won't voom, even with a jolt of startlingly positive economic data. The question for the second half of this year is whether it's merely resting, or sticking to its perch only because it has been nailed there (by the exorbitant privilege which comes with being the world's reserve currency). The trend is startlingly negative, with the DXY dollar index now further below its own 200-day moving average than at any time in 20 years:
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
33 minutes ago
- Bloomberg
Trump Says Bessent Isn't Leading Fed Candidate, But ‘Very Good'
President Donald Trump said Scott Bessent was an option to replace Jerome Powell as head of the Federal Reserve but suggested the Treasury secretary was not the leading candidate because of his success in his current role. 'He's an option and he's very good,' Trump told reporters on Tuesday when asked directly about Bessent being a potential successor.
Yahoo
34 minutes ago
- Yahoo
Trump plans to put a tariff of over 10% on goods from smaller countries, including nations in the Caribbean and Africa
WASHINGTON (AP) — Trump plans to put a tariff of over 10% on goods from smaller countries, including nations in the Caribbean and Africa.
Yahoo
36 minutes ago
- Yahoo
Former Detroit Pistons guard Malik Beasley previously faced millions in lawsuits
The most recent lawsuit against former Detroit Pistons guard Malik Beasley is just the latest in a string of financial trouble the NBA veteran has faced over the last few years. As first reported by ESPN, Beasley was sued by New York's Hazan Sports Management Group on April 20 for breach of contract related to missed payments on a $650,000 advance. Hazan Sports is seeking $2.5 million of relief, though a court filing released on June 11 shows they and Beasley are currently in settlement talks. Advertisement Court records show that's not the only lawsuit plaintiffs have recently filed against Beasley, with the veteran having been sued twice by a rental property in Detroit in 2025. He also faced two lawsuits in 2024 filed in Milwaukee County Court, totaling more than $60,000 in relief awarded to the plaintiffs. Beasley is also under a federal investigation related to unusual gambling activity surrounding a game he played with the Milwaukee Bucks on Jan. 31, 2024. The Pistons were reportedly gearing up to offer a three-year, $42 million contract to Beasley, who initially signed with the team on July 6, 2024, on a one-year, $6 million deal. Beasley had a resurgent year with the Pistons in the 2024-25 season, smashing the franchise record for 3-pointers made (319) and helping Detroit to its first playoff berth since 2019. Beasley wrote a piece in the Players' Tribune on April 17, just before the start of the 2025 playoffs, calling Detroit a "perfect fit" and expressing his desire to come back to the Pistons. Advertisement But that reunion may be in jeopardy with word of Beasley's financial and legal issues. Malik Beasley sued by Detroit property manager Detroit Pistons guard Malik Beasley celebrates a 3-point basket against the New York Knicks during the first half of Game 6 in an Eastern Conference playoff first-round series at Little Caesars Arena in Detroit on Thursday, May 1, 2025. Records from Detroit's 36th District Court show that Beasley and other occupants of a residence at The Stott, a downtown Detroit apartment located on Griswold St., were sued by Paperclip Properties LLC for non-payment of $14,150 of rent on March 6. Beasley did not show up to the hearing, though the case was later dismissed on March 31. However, Paperclip sued Beasley again on June 3 for non-payment of rent, this time for $7,355. Beasley once again failed to appear at the hearing when summoned, and the case is still ongoing. Advertisement Paperclip Properties LLC is a subsidiary of Bedrock Detroit, a real estate firm owned by Rocket Companies chairman Dan Gilbert. Beasley sued by Milwaukee-area barber, dentist Nov 30, 2023; Chicago, Illinois, USA; Milwaukee Bucks guard Malik Beasley (5) drives to the basket against Chicago Bulls guard Ayo Dosunmu (12) during the first half at United Center. Mandatory Credit: Kamil Krzaczynski-USA TODAY Sports Two separate lawsuits were filed against Beasley on Sept. 18, 2024, one by Milwaukee-area dentist Hassan Alshehabi (of Delicate Smiles LLC) and another by Milwaukee barber Rekar Jaff (of Cairo Cuts). Separate judges both ruled in favor of Alshehabi and Jaff on Jan. 22, with Beasley ordered to pay $34,389.70 to Delicate Smiles and $26,826.76 to Cairo Cuts. A garnishment notice on both rulings was placed on Feb. 7, meaning the payments were set to come out of Beasley's paychecks. Advertisement Beasley played with the Milwaukee Bucks in the 2023-24 season, playing in 79 regular-season games and leading the team in three-pointers made (224). Beasley sued by money lender The biggest known financial lawsuit against Beasley involves South River Capital, a Maryland-based company that specializes in lending money to athletes. South River sued Beasley in Baltimore County on Jan. 26, 2022, and was awarded $5.8 million in damages. The lawsuit was filed while Beasley was playing for the Minnesota Timberwolves, where he played from 2019-22. It is unclear how much money Beasley borrowed from South River, nor why South River sued. Advertisement Beasley was the No. 19 overall draft pick by the Denver Nuggets in the 2016 NBA Draft and has played on six teams over his nine-year career. According to Spotrac, he has made approximately $59.9 million in career earnings during his time in the NBA. Christian Romo can be reached at cromo@ This article originally appeared on Detroit Free Press: Former Pistons guard Beasley previously faced millions in lawsuits
