“Russia has an advantage in the air; I hope for the allies' assistance,” Ukrainian President Volodymyr Zelenskyy said during early Thursday morning in Asia.

More comments

Elsewhere, the UK’s Ministry of Defense (MoD) came out with their latest Defence Intelligence update suggesting that Russia is resorting to the use of older, less precise weapons, which are less military effective and more likely to result in civilian casualties.

FX implications

The news is concerning a challenge to the previous risk-on mood. However, the S&P 500 Futures remain mildly bid by, up 0.10% around 4,362 by the press time.

Read: Forex Today: Fed, war and inflation not enough to take down Wall Street