UoM Consumer Sentiment survey tumbles as expected

The University of Michigan released its consumer sentiment survey, showing a steep drop to 90.7 in January from 98.3 in December, matching expectations. 

As of 03:27 GMT, the dollar index rose 0.15% to 96.21, marking the highest since January 4 at 96.26, and an intraday low at 96.01. 

The current economic conditions gauge in the same survey fell to 110.0 from 116.1, while economic outlook receded to 78.3 from 87.0. 

One-year inflation steadied at 2.7%, same as before, while five-year outlook rose to 2.6% from 2.5%.