A fall in the euro to parity versus the dollar is now viewed by many analysts as a matter of when not if. But how quickly it happens could rest on just one person: the chair of the U.S. Federal Reserve.
The U.S. central bank meets next week and whether or not Fed chair Janet Yellen signals a rise in U.S. interest rates in the months ahead is likely to be the trigger for the next major euro sell-off, analysts say.
"Can parity be achieved in a few weeks? At this pace yes; or is it going to be something that's achievable over a longer timeframe?," Jane Foley, senior currency strategist at Rabobank in London told CNBC Europe's "Squawk Box" Thursday.
"To be honest the person that's going to answer that question is Yellen and the FOMC statement next week," she said, referring to the Fed's rate-setting body – the Federal Open Market Committee.