Treasury’s Bessent Warns on Euro $1.20 and Volatile FX Reversals

US Treasury Secretary Bessent cautioned governments on Thursday that rapid shifts in foreign-exchange markets could quickly reverse, saying rates “could boomerang back to the April 2 level.” Bessent added that a rise in the euro to $1.20 would likely draw sharp complaints from European capitals, underscoring the sensitivity of policymakers to currency moves amid uneven global growth and divergent monetary policies.