I would concur on USD strength - I anticipate a gentle strengthening over the Christmas holidays.
Fundementally, I can't understand why the pound as opposed to the euro and dollar has weakened as much as it has. The UK isn't talking about QE3 or further eurozone bailouts after all. Our austerity (as opposed to "stimulus") program is kicking in at the end of this year.
I'm also itching to get short the FTSE on that basis as well, but as always, timing is everything.