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Commitment to refrain from competitive FX devaluations has sustained confidence: Treasury's Lew
July 23, 2016 / 3:22 AM / a year ago

Commitment to refrain from competitive FX devaluations has sustained confidence: Treasury's Lew

CHENGDU, China (Reuters) - U.S. Treasury Secretary Jack Lew said commitments by G20 members to refrain from competitive currency devaluations have helped sustain economic confidence, according to a statement summarizing discussions between Lew and Japanese Finance Minister Taro Aso.

United States Secretary of the Treasury Jacob Lew attends a panel for the High-level Tax Symposium held in Chengdu in Southwestern China's Sichuan province, Saturday, July 23, 2016. REUTERS/Ng Han Guan

The two were speaking during the G20 meeting of finance ministers and central bank governors in Chengdu, China on Saturday.

Lew also “reinforced the importance” of working quickly to approve and implement the Trans-Pacific Partnership agreement, the press release said.

Reporting by the Shanghai Newsroom and David Lawder; Editing by Jacqueline Wong

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