UoM Consumer Sentiment survey beats expectations

University of Michigan released its preliminary reading for the consumer sentiment survey, which came at 97.6 in August, compared to July's 93.4, and comfortably beating expectations of 94.0. 

As of 03:11 GMT, the dollar index, tracking the greenback's performance against a basket of major rivals, fell to 93.45 from the opening of 93.62, with an intraday low at 93.33, and a high at 93.77. 

The current economic conditions index in the same survey fell to 111.0 from 113.4, while the economic outlook index rose to 89.0 from 80.5 last month. 

Inflation outlook for one year steadied at 2.6%, the same as July, while five-year inflation outlook fell to 2.5% from 2.6%.