Palladium slides to three-week low

Palladium prices tumbled on Thursday to a three-week low amid negative pressures on commodity prices after the dollar surged against main currencies following the ECB meeting.
 
Palladium last traded at $722.30 an ounce, up from the opening price of $734.92, with an intraday high at $737.38, and a low at $716.40.
 
Palladium's current drop comes as the dollar jumps versus major currencies, heaping pressure on the metal prices and forcing them down.
 
Dollar's rise against main currencies came after the European Central Bank's meeting, at which the bank extended the government-bonds buying program to increase liquidity in the Eurozone, which buoyed the dollar and hurt palladium futures.
 
The dollar index, tracking the greenback against a basket of main rivals, rose to 100.83 from the opening of 100.18, with an intraday low at 99.46, and a high at 101.09.