USD/RUB falls

The rumors are true: Trump wants better relations with Russia. Reports are crossing that the Treasury Department will ease sanctions on Russia.

USD/RUB quickly lower.

The January cluster of lows is just 20 pips below. A break would send USD/RUB to an 18-month low.

Update: That didn't take long. The pair broke down to an 18-month low of 58.67.

Update 2: US Treasury Dept easing Obama admin sanctions to allow companies to do transactions with Russia's FSB, which is the successor organization to the KGB. What do companies need to do business with them for?

In any case, that's a bit of a letdown for RUB traders because it's a really small step.