LONDON (Reuters) – The UK risks a confidence crisis in its currency and sterling could sink to parity with the dollar, Citi said on Friday, after the UK government announced a series of tax cuts financed with tens of billions of pounds more in borrowing. The pound dropped 2.2% to as low as $1.10 on Friday, a new 37-year low, meaning a move to parity would mark another 10% drop. Sterling’s all time-low is around $1.05. “We think the UK will find it increasingly difficult to finance this deficit amidst such a deteriorating economic backdrop; something has to give, and that something will eventua…