The euro has suffered its longest losing streak against the dollar since the single currency came into existence in 1999. The euro's 0.5pc drop in Asian trade to $1.0582 marked the tenth straight daily drop, taking the currency to its lowest level since December 3 last year.

We take a closer look at why the single currency has fallen in value and how low it could go from here.

What's happening in financial markets?

Donald Trump's victory in the US elections has shaken up global markets and triggered what analysts at Bank of America Merrill Lynch (Baml) have described as a "violent rotation".

Mr Trump hasn't even entered office, but investors believe his programme of tax cuts and infrastructure spending will raise growth and inflation in the US, while his protectionist policies are expected to hit emerging markets.

This means equities are back in fashion and bonds are not, with this week seeing the widest disparity between stock and bond flows ever recorded, according to Baml data.

At $28bn, equities have seen their largest weekly inflows in two years, while bond outflows, at $18bn, touched a three-and-a-half year high. Not all equities are benefiting though. This week also saw the largest EM equity outflows in 14 months.

The combination of policy uncertainty, potentially stronger US growth, a rise in protectionism and expectations of faster Fed tightening has also seen the dollar strengthen against a basket of currencies.