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Japan’s Top FX Diplomat Mimura: US did not discuss FX levels at finance ministers' meeting

Atsushi Mimura, Japan’s Vice Finance Minister for International Affairs and top foreign exchange official, said early Thursday “ the US did not discuss FX levels at finance ministers' meeting.”

Additional comments

Reaffirmed that forex should be determined by the market.

Do not believe that there is any gap in understanding with the US.

Finance Minister Kato agreed with Bessent that FX rates should be set by markets.

Market reaction

EUR/USD hovers near 1.1350, two-week highs ahead of HCOB PMI for Eurozone

EUR/USD is hovering around 1.1340, close to two-week highs during the Asian trading hours. The Euro (EUR) continues its winning streak for the fourth consecutive session ahead of the HCOB Purchasing Managers Index (PMI) for the Eurozone, scheduled to be released later in the day.
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Gold price hits two-week high as USD declines on deteriorating US fiscal outlook

Gold price (XAU/USD) prolongs the uptrend for the fourth consecutive day and climbs to a nearly two-week high, around the $3,344-3,345 area during the Asian session on Thursday.
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