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European Central Bank (ECB) Executive Board Member Sabine Lautenschlager has announced her resignation from the ECB board on Wednesday.  

According to Reuters,  Lautenschlager will resign from her position on October 31st, prior to the end of her term.

“President Mario Draghi thanked her for her instrumental role in helping set up and steer Europe-wide banking supervision, a key pillar of banking union, as well as her unwavering commitment to Europe,” the ECB said in a statement.

The shared currency pair hasn’t yet reacted to this development yet and the EUR/USD pair was last seen trading at 1.0947, erasing 0.66% on a daily basis.