The U.S. dollar is getting cheaper against most of the world’s major currencies on Thursday morning as traders await the outcome of the April meeting of the European Central Bank (ECB).

The ECB at the end of the meeting on Thursday will not change key interest rates, believes the vast majority of analysts. At the same time, investors are waiting for signals from the regulator as to when it intends to start tightening monetary policy.

Many economists and traders believe that the ECB will raise the deposit rate, currently at minus 0.5%, in December this year. At the same time, there are growing expectations that the rate increase may happen earlier – already at the beginning of the fourth quarter.

In addition, market participants are interested in the timing of the completion of the ECB’s asset purchase programs. The central bank made it clear back in March that it may complete the program in the third quarter, so on Thursday experts will be watching for a possible change in these terms.

The ECB statement on the results of the meeting will be published at 14:45 Moscow time.

As of 8:59 Moscow time, the euro-dollar exchange rate rose by 0.21% to $1.0911 compared to $1.0888 at the close of the previous session.

The value of the U.S. currency paired with the yen declined by 0.15% to 125.43 yen against 125.62 yen at the end of previous trading.

The Australian dollar rose 0.08% against the U.S. dollar, trading at $0.7457, the pound sterling rose 0.3% to $1.3134.

The ICE-calculated index showing the dollar’s performance against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona) fell 0.25%, while the broader WSJ Dollar fell 0.21%.