TOKYO - The dollar was little changed against the euro and the yen in Asia on Monday as traders looked ahead to upcoming US bank earning results due this week.

The dollar was at 100.30 yen in Tokyo morning trade, compared with 100.36 yen here on Friday afternoon. The euro was quoted at $1.3143 against $1.3127 and at 131.81 after 131.76.

Investors were "reluctant to take new positions", waiting for the New York and London markets to reopen after the long holiday weekend, said Yuji Saito, forex head of Societe Generale.

Trading should pick up from Tuesday, with markets eyeing quarterly earnings results from US banking giant Goldman Sachs, Saito said.

As the market is already hopeful that the figures will not be too bad, it may be hard for the dollar to rise even if the banks report signs of a recovery in their fortunes, he said.

US banking giant Wells Fargo's forecast last week of a record first-quarter profit sparked hopes of an easing of the financial crisis.

The dollar was unmoved by news Friday that the US budget deficit expanded in March to hit a record nearly $1 trillion just halfway through the current fiscal year, due to bailouts of troubled institutions.

Traders said that with other countries also spending heavily to pump up their recession-hit economies, the market largely overlooked the US data.