Sterling declines, on track for flat week

Sterling fell on Friday for the second straight day after rising for two sessions, with the pound on track for a flat week after a string of conflicting factors this week.
 
GBP/USD last traded at 1.2466, down from the opening of 1.2490, with a session-high at 1.2518, and a low at 1.2437.
 
Sterling's drop comes amid negative pressure from dollar's rise to a two-week high against a basket of rivals following U.S. president Donald Trump's announcement of "phenomenal" corporate tax cuts soon.
 
The pound rose in the first half of the week after Bank of England officials pointed to the strength of the British economy and how effectively it dealt with the Brexit situation, which could pave the way for a rate hike eventually.
 
These bullish statements underpinned the pound before the dollar rebounded against a basket of currencies, erasing the pound's gains and forcing it into a flat weekly result.