We calculate the magnetic form factor of the deuteron up to O(eP^4) in the chiral EFT expansion of the electromagnetic current operator. The two LECs which enter the two-body part of the isoscalar NN three-current operator are fit to experimental data, and the resulting values are of natural size. The O(eP^4) description of G_M agrees with data for momentum transfers Q^2 < 0.35 GeV^2.
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