TOKYO, June 23 Reuters The U.S. dollar remained under pressure on Thursday as it looked set to extend declines against major peers to a fourth day, hurt by Treasury yields wallowing near twoweek lows amid rising concerns of a recession.

The safehave yen bounced, climbing back from 24year lows to the dollar. The risksensitive Australian dollar dropped, and the Korean won slid to its weakest level for 13 years.

The dollar index, which measures the currency against six key rivals, slipped 0.07 to 104.14, bringing its decline since Friday to 0.44. It has fallen 1.54 from the twodecade peak of 105.79 reached on June 15, when the Federal Reserve raised rates by 75 basis points the biggest hike since 1994.

Markets have become increasingly concerned that the Fed39;s commitment to quelling redhot inflation will spur a recession. Those worries sent the 10year Treasury yields sliding to an almost twoweek low.

Overnight, Fed Chair Jerome Powell said in testimony to Congress that the central bank is fully committed to bringing prices under control even if doing so risks an economic downturn. He said a recession was certainly a possibility, reflecting fears in financial markets that the Fed39;s tightening pace will throttle growth.

Powell testifies to the House later in the global day.

Economists polled by Reuters expect another 75basispoint hike for July, followed by a 50basispoint rise for September.

Powell39;s semiannual testimony has taken some steam out of the USD, his…