* Euro little changed on day at $1.2367 EUR=
* Little reaction to G20 summit; yen broadly higher
* Swiss franc hits record high vs euro, 8-wk high vs dlr
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By Tamawa Desai
LONDON, June 28 (Reuters) - The dollar was weighed down on Monday on concerns about U.S. economic recovery, while the euro failed to make headway after a G20 summit left markets unmoved.
The market showed little reaction to a Group of 20 leaders' summit where they agreed to take different paths to cutting budget deficits, a reflection of the uneven and fragile economic recovery in many countries. [ID:nN26228300]
"It's mostly a compromise and nothing hugely material," said Lee Hardman, currency economist at Bank of Tokyo-Mitsubishi UFJ.
"The focus this week is of the recovery weakening, which is taking some upward momentum out of the dollar, most evident against the yen, as the euro remains hampered by its own issues."
By 0904 GMT, the euro was little changed from late U.S. trade on Friday at $1.2367 EUR=. Near-term resistance was seen at $1.2490, the high struck on June 21, with support forming around Friday's low of $1.2254.
Option barriers were cited around $1.2400, traders said.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was almost flat on the day at 85.34 .DXY, holding above last week's low of 85.09 which was seen as near-term support.
A fall below that level would take the index to its weakest since mid-May. Support below that was seen near the 55-day moving average at 84.80.
Against the yen, the dollar was at 89.33 yen JPY=, not far from a five-week low of 89.21 hit on Friday after first quarter U.S. growth data was revised down. Japanese corporate yen demand at the month-end may also underpinned the yen.
The dollar got some support in Asia from expectations that Japanese importer bids were sitting below 89.00 yen, but options triggers below 89.00 yen could take it lower, traders said.
The latest data from the Commodity Futures Trading Commission showed currency speculators slightly trimmed bets on the greenback and went long on the yen in the week to June 22. Net euro short positions against the dollar increased. [IMM/FX] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Graphic on net U.S. dollar long positions
The Swiss franc extended gains, hitting a record high against the euro and an eight-week peak against the dollar.
It got a boost as Swiss National Bank board member Jean-Pierre Danthine was quoted as saying deflationary risks had largely disappeared in Switzerland and Swiss exports have proven to be robust despite a strong Swiss franc. [ID:nWEA7639]
The SNB had backed off a pledge to fight excessive appreciation of the franc earlier this month.
The euro faces downward pressure this week from political uncertainty stemming from Germany's presidential election and potential funding tensions as the European Central Bank's one-year loans worth 442 billion euros expire.
A raft of U.S. economic data this week, culminating with non-farm payrolls figures on Friday, will offer plenty of evidence about the state of the world's largest economy.
"Weaker U.S. data of late, has managed to restrain the dollar, suggesting that cyclical factors and not just risk aversion are beginning to play into FX movements," analysts at Credit Agricole CIB said in a note.
"But pressure is likely to prove temporary, especially given that the U.S. economy is still on course to outperform many other major economies." (Graphics by Scott Barber; editing by Mike Peacock/Toby Chopra)