Early trade in New York: euro little changed

The euro was little changed against the dollar on Friday, with further declines likely heading into the new year as the festering eurozone debt crisis spurs investors to shun risk. A rise in new single-family homes to a seven-month high in November reported on Friday came on the heels of other signs of improvement in the US economy on Friday and added to the dollar's allure at the euro's expense.
Optimism on the US economic recovery stands in sharp contrast to the doom felt in Europe as monetary and political authorities struggle to resolve the sovereign debt crisis and hold the eurozone together. The single currency was last at $1.3044, holding above a recent 11-month low. It is down around 2.5 percent on the year. The US currency stayed supported at 78.11 against the yen.