Markets are slow with the weight of uncertainty surrounding US debt levels stifling trading.

The US government is debating how to reduce the nation's deficit and the merit of lifting the country's already high, US$14.3 trillion debt ceiling.

See weekly market video update with IRG BOP's Jonathan York below.

This timid time for the US market is having several affects on the global economy, and none more noticeable to Kiwis than the weakening of the US dollar.

The exchange rate is at an all time high for the Kiwi dollar with it steady at about US86c to NZ$1.

With decisions on the US debt ceiling not due until August, breaking the US87c threshold is possible.