Palladium hits four-month trough

Palladium prices fell to a four-month trough as the dollar jumped to an eight-month high against main rivals, weighing on commodities. 

Palladium last traded at $621.10 an ounce, down from the opening of $631.10, with a session-high at $631.13, and a low at $615.23.

Palladium's drop comes as the dollar strengthens versus major currencies, hitting an eight-month peal and heaping pressure on commodities according to their inverse relation. 

Dollar's rise adds to large gains yesterday after the euro plummeted on the back of the European Central Bank's meeting, in turn pushing commodities down. 

The dollar index, tracking the greenback's performance against a basket of six major peers, rose to 98.72 from the opening of 98.30, with an intraday low at 98.30, and an eight-month high at 98.75, heading for the fourth weekly profit in a row.