A single-cycle laser pulse was generated using a two-stage compressor and characterized using a pulse characterization technique based on tunnelling ionization. A 25-fs, 800-nm laser pulse was compressed to 5.5 fs using a gas-filled hollow-core fibre and a set of chirped mirrors. The laser pulse was further compressed, down to the single-cycle limit by propagation through multiple fused-silica plates and another set of chirped mirrors. The two-stage compressor mitigates the development of higher-order dispersion during spectral broadening. Thus, a single-cycle pulse was generated by compensating the second-order dispersion using chirped mirrors. The duration of the single-cycle pulse was 2.5 fs, while its transform-limited duration was 2.2 fs. A continuum extreme ultraviolet spectrum was obtained through high-harmonic generation without applying any temporal gating technique. The continuum spectrum was shown to have a strong dependence on the carrier-envelope phase of the laser pulse, confirming the generation of a single-cycle pulse.