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The European System of Central Banks (ESCB) is intervening through the Bank of Italy to ensure orderly conditions on financial markets, Reuters reported on Wednesday, citing a Bank of Italy source.

“ESCB interventions are flexible in timing and the markets they cover, the intervention will continue as long as necessary,” the source told Reuters. “Interventions are aimed at clarifying if markets have any doubt about the decisions taken by the ECB’s Governing Council.

EUR/USD reaction

The EUR/USD pair edged slightly lower on this headline and was last seen trading at 1.1005, adding 0.08% on the day.