# Peso surges after Wilbur Ross talks of currency stabilisation ‘mechanism’

> Newly appointed US Commerce Secretary Wilbur Ross said on CNBC that the White House would work with Mexican authorities on a mechanism to stabilize the dollar-peso rate. The peso rose about 2% on the comments, its best daily gain since January.

- Date: 2017-03-03 · published 2017-03-03T12:00:00.000Z
- Category: policy · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/72212-peso-surges-after-wilbur-ross-talks-of-currency-stabilisation-mechanism
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A US push to stabilize the peso reduces currency risk for Mexican importers of US grain, supporting export demand, and signals a less confrontational trade stance.

## Read by commodity

- CORN: bullish ▲
- USDMXN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-02-28 | [Argentine farmers protest tax, currency policies as drought weighs \| Reuters](https://feedsoft.ai/events/13980-argentine-farmers-protest-tax-currency-policies-as-drought-weighs-reuters.md) | +0.9% | +0.2% |
| CORN | 2020-01-14 | [Why the U.S. no longer considers China a currency manipulator](https://feedsoft.ai/events/55315-why-the-u-s-no-longer-considers-china-a-currency-manipulator.md) | +0.5% | -2.2% |
| CORN | 2021-06-17 | [China’s Plummeting Hog Prices Trigger New Mechanism That May Lead to State Buying  - Caixin Global](https://feedsoft.ai/events/46560-china-s-plummeting-hog-prices-trigger-new-mechanism-that-may-lead-to-state.md) | -2.4% | +2.5% |
| CORN | 2019-11-12 | [State Council planning more measures to restore nation's hog production](https://feedsoft.ai/events/56059-state-council-planning-more-measures-to-restore-nation-s-hog-production.md) | -0.5% | -2.9% |
| CORN | 2017-10-20 | [EPA abandons changes to US biofuel program after lawmaker pressure](https://feedsoft.ai/events/68336-epa-abandons-changes-to-us-biofuel-program-after-lawmaker-pressure.md) | +0.2% | -5.9% |

## Sources

- ft.com: https://www.ft.com/content/4d741211-587f-31a6-86a0-e8517e33d9e2?syn-25a6b1a6=1

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.