1100 GMT - The dollar has room to weaken moderately further as U.S. policy uncertainty remains a burden, HSBC's Paul Mackel says in a note. "We are sceptical in thinking that it will be calmer going forward when many trade discussions are ongoing and deals are light in detail." Another source of uncertainty is U.S. fiscal policy, particularly questions around potentially taxing global investors, he says. Meanwhile, structural de-dollarization is showing some semblance of growing importance. Departure from the dollar should continue, however it isn't the easiest currency to leave when other currencies have flaws such as weak growth and low yields, he says. HSBC expects the euro to rise to $1.20 in the fourth quarter from $1.1524 currently. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

June 20, 2025 07:00 ET (11:00 GMT)

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