The United States is bickering about the debt ceiling once again but the market is bored with the debate and that boredom is reflected in the charts.
The solution to the debt ceiling debate is always the same – give us more free money from the Federal Reserve and increase the limit on the national credit card. This is not a crisis; it's a long-running mini-series with a predictable ending. The market has seen this show before; market boredom with the debate is evident in the U.S. dollar Index chart.
The U.S. dollar index measures the value of the U.S. dollar relative to a basket of currencies. The basket is composed of the euro, Japanese yen, British pound, Canadian dollar, Swiss franc and Swedish krona. It is used as a measure of strength or weakness in the U.S. dollar.