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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.



Since the start of November the single currency has tumbled by around five per cent against the dollar, to sit at around 1.0584.





GETTY The euro has plunged against the dollar

Obama's last tour of Europe in pictures Fri, November 18, 2016 US President Barack Obama on his final trip to Europe as president before handing over power to Donald Trump. Play slideshow 1 of 21

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.