Published by Zeb BhamOn current trends, the euro may hit parity with the dollar in the near future, according to one strategist.Speaking to Market Watch, Uwe Parpart, chief Asia strategist at Cantor Fitzgerald, said the currency may hit parity by the end of the year, before "disintegrating" in 2011.There is a sizable contingent of analysts predicting the demise of the euro, which has plummeted against the dollar and other major competitors since the start of the Greek debt crisis.The debt contagion has since spread to other nations including Spain, Portugal and Ireland, and there is also concern about the sustainability of the UK's AAA sovereign debt status.The euro last traded at parity with the dollar in 2002; this morning it traded at an intraday low of $1.2333, its lowest level since October 2008.According to data compiled by Bloomberg, the cost to hedge against losses on European banks has climbed 63 per cent in the last month, revealing the growing lack of trust in the region.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site