EURO PLUNGE: Single currency sinks to 20-month low against dollar
The European Central Bank (ECB) is widely expected to announce an extension of staggering trillion euro money-printing programme before it runs out in March, in another desperate bid to shore up the economy.
On the other hand, the strengthening US economy means the the Federal Reserve is likely to to raise interest rates next month.
As a result, investors are dumping the euro and piling into the US dollar.
Experts believe the two currencies could now reach parity in the coming months.
The single currency is now sitting at just 1.0552 against its American counterpart.
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