Pound clears $1.70 against dollar 英镑对美元汇率1.70

The pound has continued to gain against the dollar, rising above $1.70 for the first time since October on optimism about the UK economy.

英镑对于美元汇率持续上涨，自去年10月英国经济前景乐观之后第一次超过了1.70。

The pound rose as high as $1.7005 on Tuesday before falling back to $1.6938.

It also hovered（盘旋，翱翔，徘徊） near a one-month high against the euro of 84.59 pence that it reached on Monday.

The pound got a lift on Monday after data showed the UK manufacturing sector expanded for the first time in more than a year.

Robust results from banking giants Barclays and HSBC also increased confidence in the currency.

The UK economy is viewed as being particularly reliant（依靠的，信赖的） on the banking sector so evidence of any upturn benefits sterling.

Analysts at French investment firm Calyon said that there was "growing optimism that the UK economy will be able to shake off the shackles（脚镣） of recession faster than many had thought".

While still a long way below the $2 levels seen in July last year, the pound has rebounded 25% from the 23-year low of $1.35 it hit in January this year.