ECB's Lane says that there is no concern about current euro level

ECB board member Philip Lane on the wires

• ECB must judge implications of any euro volatility

The headline comment gave euro a bit of a spike, EUR/USD up to highs of 1.2351 before settling back down now to 1.2339.

More context on those comments, Lane says that the ECB must keep its guard up against the risk of a sudden appreciation in the euro - but says that there is no concern about the current level.

He adds that "if it moves a lot within a short time interval, then you have to think about the implications".

He was speaking in an interview in Dublin on the matters above.

The headline move was taken a bit out of context, but if you put it together with his other comments in the interview, it's not something that jumps out too much - but at least it shows that ECB officials are not too worked up by the euro at current levels just yet.