The euro has continued to slide against the US dollar - yesterday it slipped below $1.06 for the first time in half a year.

Analysts at Goldman Sachs have released a note predicting that the two could reach parity by the end of 2015.

Similar predictions were made last spring as the effects of the European Central Bank's (ECB) massive quantitative easing programme began to be felt - but the euro's performance improved over the summer months. However, the euro is going south again - and Goldman Sachs expects this trend to continue.

All eyes will be on the Federal Reserve and the ECB in December. The former is expected to tighten monetary policy with an interest rate hike - while the later is considering expanding its bond buying programme or cutting interest rates to below their current historic low.

Higher interest rates should drive the dollar's value up - while increased quantitative easing or a rate cut will weaken the euro.

€1 bought $1.13 as recently as early October.

Here's the full Goldman Sachs note:

The Euro generally depreciated vs. the Dollar post a Fed rate hike, with the exceptions being 1986 and 1994. Our FX team forecast roughly a 20% appreciation in the Dollar vs. G10 currencies by end-2017. They expect EUR/US$ to go to 0.95 over the next 12-months but this level could be reached sooner. Until the ECB meeting they expect 1.05 and parity by year-end.