Investors have frantically dumped the single currency over 10 consecutive trading sessions – the worst performance since the euro was introduced in 1999.
Head of the European Central Bank (ECB) Mario Draghi failed to ease fears after warning that the eurozone recovery depends on action by monetary policymakers.
The two currencies are set to reach parity and the euro could even dip below one.
Mr Draghi’s comments were seen as a hint that the ECB is set to extend its trillion euro money-printing programme in another desperate bid to shore up the economy.
But the US central bank – the Federal Reserve – is moving in the opposite direction and is expected to raise interest rates next month.
As a result, the dollar has experienced a huge rally.
Fawad Razaqzada, market analyst at Forex.com, said: “The EUR/USD is still limping, now below 1.06.
“It could absolutely collapse next week as the dollar appreciates further.”
Full article: EURO PLUNGE: Single currency could ‘COLLAPSE’ against dollar amid record losing streak (Express)