The euro hit a three-week high against the dollar Friday after an indicator of Germany's business climate beat expectations, while European stocks were little changed as investors awaited the outcome of the European Union summit on the bloc's budget. The single currency briefly hit a fresh three-week high of $1.2915 after surveys showed improved sentiment among businesses in the euro zone's two largest members. The headline confidence measure from the Ifo Institute's monthly survey of German businesses rose after six straight months of decline, beating expectations.

Source