Sterling has boomed since mid-April and some analysts say the rally could run way beyond next month’s national election.
Biotech, which has been a market leader all year, is weak, with both the market-cap weighted IBB and equal weighted XBI down roughly 4 percent each.
The euro scaled a three-weak peak against the dollar on optimism about Greece's prospects after the government reshuffled its bailout team.
David Sneddon, managing director and global head of technical analysis at Credit Suisse said the dollar basket faces a "nervous few days" ahead of the Fed meeting this week.
Jane Foley, senior currency strategist at Rabobank, said the strong dollar has weighed on U.S. earnings and predicts the U.S. Federal Reserve will hold off on raising rates until December.
CNBC's Simon Hobbs reports on all the market moving events in Europe today, including the exit of Greece from the eurozone and European banks.
The big question ahead of the Federal Reserve meeting this week is how the central bank will characterize the economy.
Competition alive and well in equity space.
Data showing a seventh straight monthly decline in U.S. business spending plans knocked the dollar lower on Friday.
CNBC's Simon Hobbs reports on all the market moving events in Europe today, including Electrolux and European banks.
Despite earnings, investors cannot help but notice the continuing impact of the strong dollar on tech revenues.
The dollar fell against most other major currencies on Thursday, while the euro rose on waning fears of a Greek default.
It's true we have been seeing low volume and low volatility, but we are on the verge of breaking out of a trading range we have been in all year.
CNBC's Simon Hobbs reports on all the market moving events in Europe today, including the Purchasing Managers' Index falling to 53.5 in April from 54.0 in March.
Central bankers may be mulling another interest rate cut after PMI fell to its lowest level in a year.
The dollar edged upward after a jump in U.S. home sales data lifted expectations Federal Reserve policymakers may soon hike interest rates.
CNBC's Simon Hobbs reports on all the market moving events in Europe today, including consumer confidence falling.
New revelations revealed in the flash crash investigation.
The euro inched up against the dollar, pivoting from early losses following an ECB proposal.
We are finally in the heart of earnings season, and two clear trends are emerging.