Sterling flags as investor jitters favour the dollar

LONDON, April 25 (Reuters) – The pound fell on Tuesday, in line with a decline in a number of European currencies, as nervousness around the outcome of the earnings season and the outlook for the global economy gave the dollar an edge.

In UK news, Britain recorded a bigger-than-expected budget deficit of 21.53 billion pounds ($26.87 billion) in March, official data showed on Tuesday, capping off the fourth-highest borrowing for a financial year since records started.

A Reuters poll of economists had pointed to public sector net borrowing, excluding state-owned banks, of 20 billion pounds.

Sterling on Tuesday was trading down 0.2% against the dollar at $1.2463 and down 0.1% against the euro at 88.53 pence.

The pound has been one of the strongest performing major currencies against the dollar so far this year, with a gain of 3.1%, neck-and-neck with the euro for second place behind the Swiss franc , which has…

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