BRUSSELS (dpa-AFX) - The pound slipped against its major counterparts in the European session on Friday, as Russian forces seized control of the Zaporizhzhia nuclear power plant in Ukraine following a fire that broke out amid heavy shelling of the facility.
Ukrainian authorities said that the fire at the nuclear plant has been extinguished and its radiation levels remained unaffected.
Russia took control of the nuclear power plant and fighting had temporarily ceased.
European stock markets fell, tracking losses in Asia, as news of the Russian attack on the nuclear power plant escalated tensions over its war against Ukraine.
The NATO secretary general said that even though the organization did not seek war with Russia, it must 'make sure there's no misunderstanding about our commitment to defend our allies.'
The pound weakened to 2-day lows of 1.3294 against the greenback and 153.30 against the yen, down from its prior highs of 1.3354 and 154.22, respectively. The pound is seen facing support around 1.30 against the greenback and 149.00 against the yen.
The pound weakened to 1.2187 against the franc, its lowest level since December 21. If the pound falls further, 1.18 is likely seen as its next support level.
In contrast, the pound resumed its early gains against the euro, touching a 5-1/2-year high of 0.8260. On the upside, 0.80 is likely seen as its next resistance level.
Looking ahead, U.S. jobs data for February, Canada building permits for January and Ivey PMI for February will be featured in the New York session.
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