Palladium climbs from one-week low

Palladium prices rose on Tuesday after hitting a one-week low, as the dollar flags, underpinning commodity prices.
 
Palladium last traded at $759.67 an ounce, up from the opening price of $746.15, with an intraday high at $760.62, and a low at $741.75.
 
Palladium's rise today comes as the dollar tumbled against main currencies, underpinning commodity prices according to their inverse relation.
 
Dollar's tumble comes as sterling surged following U.K. Prime Minister's speech today, which sent the pound sharply higher and heaped pressure on the greenback, in turn buoying commodities, specially as market optimism grows.
 
The dollar index, tracking the greenback against a basket of main rivals, skidded to 100.40 from the opening of 101.59, with an intraday high at 101.61, and a five-week nadir at 100.36, following the British PM's speech today.