BREAKING: USD under heavy selling pressure

USD weakened significantly against other major currencies ahead of the London fix, despite lack of any new fundamental factors. Earlier unnamed western officials said that there is a significant difference in positions in the Ukraine-Russia peace talks. Later Russian sovereign bond coupon payment was received by JPMorgan processed and bank did onward credit to paying agent Citi, according to a source familiar with the situation.  USDCAD pair fell sharply on Thursday, reaching the lowest level in two weeks, amid a rebound in commodity prices. Pair is currently testing local support at 1.2640 which coincides with 50.0% Fibonacci retracement of the upward wave launched at the end of October 2021. Should a break lower occur, the next target for sellers is located at 1.2600 level.

USDCAD, H1 interval.Source: xStation5