The U.S. dollar index fell on Thursday after the U.S. Federal Reserve signaled to the market that the end of the central bank’s rate hike campaign was near, Reuters wrote.

Investors were upbeat about Fed Chief Jerome Powell’s hint on Wednesday that the world’s biggest economy had begun to deflate, though he signaled that interest rates would continue to rise and that no rate cut was in sight for now.

The dollar index today fell to a new 9-month low of 100.80 following the Fed’s announcement Wednesday after officials agreed to raise rates by 25 basis points at the end of its two-day meeting, the first explicit acknowledgement by the central bank of a slowdown in inflation.

It was last down 0.07% to 100.88, ending a decline of more than 1% on Wednesday. The Australian dollar rose to an eight-month high of $0.7158 in early Asian trading Thursday and last traded at $0.7150 after rising 1.2% in the previous session.

The New Zealand dollar also hit a new eight-month peak of $0.65365 after rising more than 1 percent Wednesday. Against the Japanese yen the dollar fell more than 0.5 percent to a low of 128.17.

Today the European Central Bank and the Bank of England will announce their interest rate decisions. Each rate is expected to rise 50 basis points. The Euro/U.S. Dollar rose to about a 10-month peak of $1.1034 on Thursday and was last up 0.3% to $1.1023, while the pound rose 0.14% to $1.2392.

Inflation in the euro area fell for the third straight month in January, data showed Wednesday. But underlying price growth remained steady despite falling energy prices.

Earlier we reported that Toyota remains the world leader in auto sales.