Italian Prime Minister Giorgia Meloni crossed wires early Monday while giving an interview to the local newspaper, per Reuters.

In doing so, the Italian leader took full responsibility of the early-month announcements of windfall tax on bank by terming it a serious matter.

The policymaker also ruled out chatters about alliances for European Union (EU) parliament elections by calling it “Too early”. “NO VETOES ON LE PEN,” added Italy’s Meloni.

Market reaction

Following the news, EUR/USD pares intraday losses at the lowest level in a week, picking up bids to 1.0935 heading into Monday’s European session.

Also read: EUR/USD Price Analysis: Euro bears approach 1.0900 as sour sentiment, firmer yields propel US Dollar