The dollar index traded around 104 on Monday, holding on to its last week’s declines and tracking recent weakness in Treasury yields, amid growing concerns about a possible recession. Federal Reserve Chair Jerome Powell said last week that the central bank is fully committed to bringing prices under control, even at the risk of an economic downturn. He acknowledged that a recession was “certainly a possibility,” reflecting market concerns that the Fed’s aggressive monetary tightening would hamper growth. Weakening US economic data also weighed on the dollar, with a survey released on Friday showing consumer confidence at a record low, prompting investors to scale back bets on further dollar rallies.