U Mich consumer sentiment 97.8 vs 100.9 expected

Consumer sentiment from the University of Michigan

• Prior was 100.7
• Current conditions 113.6 vs 116.5 prior
• Expectations 87.6 vs 90.5 prior
• 1 year inflation +2.6% vs +2.4% prior
• 5-10 year inflation 2.5% vs 2.5% prior

Disappointing numbers but sentiment is still near the cycle highs.

The US dollar dipped on the headlines and that helped EUR/USD to the best levels of the day.