Italian President Sergio Mattarella has dissolved the Italian parliament, opening the door for a snap election on September 25, Reuters reported on Thursday, citing Italian state broadcaster RAI.

Market reaction

This development doesn't seem to be having a noticeable impact on the shared currency's performance against its major rivals. As of writing, the EUR/USD pair was trading at 1.0200, where it was up 0.23% on a daily basis. Meanwhile, Italy's FTSE MIB Index lost 0.7% on the day after Prime Minister Mario Draghi resigned earlier in the day.