EUR/USD dives over 0.70% on Wednesday below the 1.2000 figure, as the US Treasury Secretary Scott Bessent denied intervention rumors in the FX markets and reiterated the strong US Dollar (USD) policy. Therefore, broad US Dollar weakness triggered by US President Trump is fading ahead of the Federal Reserve's (Fed) decision. He added that the “US always has a strong dollar policy, but a strong dollar policy means setting the right fundamentals.”Bessent's comments outweighed US President Donald Trump's remarks on Tuesday, in which he said the Dollar was doing “great” when asked about the depreciation of the Greenback. Daily market movers: Euro treads water amid US Dollar strengthThe Euro drops as the buck recovers ahead of the Fed’s meeting. Conversely, if policymakers are still seeing weakness in the labor market, the EUR/USD could rally towards 1.2000 and challenge the yearly high.