The euro lost ground against its major rivals in the Asian session on Friday amid risk aversion, as fire has broken out at the Zaporizhzhia nuclear power plant in Ukraine following intense shelling by Russian forces.

Russian troops intensified their efforts to seize the plant and the heavy shelling of buildings and units of the facility caught fire in one of its six reactors.

In a tweet, the International Atomic Energy Agency said that the fire at the nuclear power plant has not affected essential equipment and plant personnel is taking mitigatory actions.

U.S. President Joe Biden joined Ukrainian President Volodymyr Zelenskyy in urging Russia to cease its military activities in the area and allow firefighters and emergency responders to access the site.

The United States and Britain imposed sanctions on more Russian oligarchs on Thursday in retaliation to its attacks on Ukraine.

The euro depreciated to a 1-year low of 126.93 against the yen and near a 2-year low of 1.1010 against the greenback, following its prior highs of 127.82 and 1.1068, respectively. The euro is poised to challenge support around 125.00 against the yen and 1.08 against the greenback.

Retreating from its early highs of 1.0158 against the franc and 0.8292 against the pound, the euro weakened to more than a 7-year low of 1.0117 and a 5-1/2-year low of 0.8262, respectively. The currency is likely to find support around 0.99 against the franc and 0.80 against the pound.

The euro pulled back from its previous highs of 1.5105 against the aussie and 1.6282 against the kiwi and dropped to a 5-1/2-year low of 1.4988 and more than a 3-month low of 1.6156, respectively. The euro is seen facing support around 1.45 against the aussie and 1.58 against the kiwi.

The euro edged down to 1.3989 against the loonie, off an early high of 1.4031. On the downside, 1.37 is possibly seen as its next support level.

Looking ahead, U.K. construction PMI for February and Eurozone retail sales for January are due in the European session.

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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