U.S. Treasury Secretary Bessent has clarified that the Exchange Stabilization Fund (ESF) is not currently holding Mexican pesos. This statement comes amid ongoing discussions about currency intervention policies and the ESF's role in stabilizing global financial markets. The fund, established decades ago, typically holds a portfolio of foreign currencies and gold reserves to support U.S. dollar stability and respond to currency volatility. Bessent's clarification suggests a strategic shift in the fund's composition, possibly reflecting changing priorities in treasury management. For traders and investors monitoring currency pairs and cross-border flows, this signals the Treasury's current stance on peso-related interventions. The move could influence USD/MXN dynamics and broader emerging market currency strategies, which often correlate with risk appetite in alternative asset markets including digital assets.