The euro rose against the dollar in Asian trade Monday as a better-than-expected US April jobs report boosted hopes of resurgent growth in the world's biggest economy, analysts said. The euro was at $1.3122 in afternoon Asian trade from $1.3116 in New York late Friday. The single currency was also buying 130.04 yen from 129.80 yen. The dollar was up to 99.10 yen from 99.00 yen. Japanese financial markets were closed on Monday for a holiday.

The Asian Development Bank on Sunday vowed to maintain its current lending level to support economic development in Asia, a region expected to continue to see robust growth. "We will maintain the lending level of around $10 billion a year, and maintain approximately $2 billion a year over the next three years for India," the ADB's largest borrower, ADB President Takehiko Nakao said at a press conference as the ADB wrapped up its two-day annual meeting in Greater Noida on the outskirts of New Delhi.

Emerging Asia needs to be on guard against "asset bubbles" as central banks globally loosen monetary policy, the Asia Development Bank's managing director warned on Friday. Last month Japan's central bank announced it would pump $1.4 trillion into the economy over the next two years, administering unprecedented financial shock treatment to end two decades of growth stagnation through bold monetary expansion.

The dollar was under pressure in Asian trade Thursday after the US Federal Reserve opted to keep its easy-money policies in place on the back of lacklustre economic data. After wrapping up a policy meeting Wednesday, the US central bank said it would keep its $85 billion a month bond-buying programme in place, and left open the door to more purchases if the world's biggest economy slowed under Washington's severe budget cuts.