USD/JPY plumbs three-week low after Russia's attack on Ukraine

USD/JPY fell in Asian trade off January 4 highs amid a state of concern in the global markets after Russia's attack on Ukraine, bolstering demand on safe havens such as yen.

As of 06:07 GMT, USD/JPY fell 0.35% to 114.58, with the lowest since February 3 at 114.49.

From the US, GDP growth data are expected to show a 7% growth rate in the fourth quarter, compared to a 6.9% growth rate in the previous reading. 

US unemployment claims for the week ending February 19 are expected down 15 thousand to 238 thousand, while continuing claims for the week ending February 12 are expected down 13K.

New home sales are expected down 800 thousand, compared to a 11.6% increase in December, before several speeches by Fed officials on the future monetary policy.

Russian President Vladamir Putin announced a military operation against Ukraine, with news spreading of explosions in Kiev, with US President Joe Biden condemning the attack and promising retributions. 

The US warned of a full-scale Russian invasion of Ukraine before midnight with the crisis entering a brand new dimension this week.