The new year hasn't been kind to Australians travelling overseas, with the Aussie dollar falling to its weakest level against the greenback in almost five years.
Yesterday, the Aussie fell below 62 US cents, and it stumbled further this morning, reaching as low as 61.84 at one point.
That's its lowest level in the best part of half a decade. The last time the dollar was so weak was in early 2020, during the onset of the pandemic.
However, the Aussie rallied, and after midday had rebounded to just above 62 US cents.
The earlier slump came after a significant sell-off in the Chinese yuan.
That, in turn, came after Chinese President Xi Jinping admitted his country – Australia's largest trading partner – is facing economic uncertainties in a New Year's address.
"The Chinese economy now faces some new conditions, including challenges of uncertainties in the external environment and pressure of transformation from old growth drivers into new ones," he said.
"But we can prevail with our hard work."
The dollar's struggles over the last few days continue a trend seen throughout 2024.
The Aussie fell about 8 per cent against the greenback over the last 12 months, a little over 7 per cent against the British pound, and 3 per cent against the Euro.
The US dollar has been particularly strong over the last four months, fuelled in part by Donald Trump's election win.
The president-elect will take office for a second time in less than three weeks, and a number of his election promises – and how exactly they are implemented – are set to have a significant impact on the global economy, including exchange rates.
In particular, his promise to slap heavy tariffs on imports, including those from China, Mexico and Canada, is set to have far-reaching effects across global markets.
DOWNLOAD THE 9NEWS APP:Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. Available on theApple App StoreandGoogle Play.
CLEVELAND (AP) — Karl-Anthony Towns wasn’t shooting for a trophy or title. This time, his clutch 3-pointer saved the Timberwolves. On the same floor where…
<div><img width="300" height="214" src="https://www.naijanews.com/wp-content/uploads/2019/12/Shina-peller-300x214.jpeg" class="attachment-medium size-medium wp-post-image" alt="2023 Presidency: Shina Peller Roasts Atiku, Describes Him As A Liar And Enemy Of Nigeria" decoding="async" style="margin-bottom: 15px;" fetchpriority="high" srcset="https://www.naijanews.com/wp-content/uploads/2019/12/Shina-peller-300x214.jpeg 300w, https://www.naijanews.com/wp-content/uploads/2019/12/Shina-peller.jpeg 655w" sizes="(max-width: 300px) 100vw, 300px" /></div>
<p>A former member of the House of Representatives, Shina Peller, has urged Turkish entrepreneurs and investors to engage with Nigeria’s growing market for a remarkable Return on Investment. Naija News learnt that the former lawmaker made the plea while delivering his speech as a keynote speaker at the 2023 Mindshift Empowerment and Employment Initiative (MEEI)’s […]</p>
<p>The post <a rel="nofollow" href="https://www.naijanews.com/2023/10/18/shina-peller-lists-opportunities-in-nigeria-woos-turkish-investors/">Shina Peller Lists Opportunities In Nigeria, Woos Turkish Investors</a> appeared first on <a rel="nofollow" href="https://www.naijanews.com">Naija News</a>.</p>
<img src="https://www.mtlblog.com/media-library/a-wooden-picnic-table-laden-with-summery-drinks-and-a-charcuterie-spread-right-the-back-of-a-lounge-chair-on-the-edge-of-a-ste.jpg?id=60355500&width=600&height=600&coordinates=264%2C0%2C264%2C0"/><br/><br/><p> Every year, the Formula 1 Pirelli Grand Prix du Canada attracts thousands of fans to Montreal to watch elite racing in the heart of one of the world's most beautiful cities. And when you're not on the edge of your seat at Circuit Gilles-Villeneuve, you'll have plenty of time to explore what Montreal has to offer.
</p><p> As an Official Partner of Formula 1 Pirelli Grand Prix du Canada <sup></sup>, Amex is offering Cardmembers unique and premium ways to elevate their race weekend — including shining a spotlight on local businesses you'll love. So, naturally, these local spots all accept Amex.
</p><p> Whether you're a local or in town for the weekend, taking time to explore the Old Port is a must. Among Montreal's oldest neighbourhoods, the Old Port is a blend of historic charm and modern luxuries on the edge of the Saint-Laurent River.
</p><p> If you're like 75% of Canadians* who agree it's important to support local small businesses while visiting a new destination, you can check out these shops to round out your F1<sup>®</sup><sup></sup> weekend plans.
</p><h2>Accent du Monde</h2><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/CPQhhV_ndKx/" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
<div style="padding:8px;">
<div style="background:#F8F8F8; line-height:0; margin-top:40px; padding:50% 0; text-align:center; width:100%;">
<div style="background:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACwAAAAsCAMAAAApWqozAAAAGFBMVEUiIiI9PT0eHh4gIB4hIBkcHBwcHBwcHBydr+JQAAAACHRSTlMABA4YHyQsM5jtaMwAAADfSURBVDjL7ZVBEgMhCAQBAf//42xcNbpAqakcM0ftUmFAAIBE81IqBJdS3lS6zs3bIpB9WED3YYXFPmHRfT8sgyrCP1x8uEUxLMzNWElFOYCV6mHWWwMzdPEKHlhLw7NWJqkHc4uIZphavDzA2JPzUDsBZziNae2S6owH8xPmX8G7zzgKEOPUoYHvGz1TBCxMkd3kwNVbU0gKHkx+iZILf77IofhrY1nYFnB/lQPb79drWOyJVa/DAvg9B/rLB4cC+Nqgdz/TvBbBnr6GBReqn/nRmDgaQEej7WhonozjF+Y2I/fZou/qAAAAAElFTkSuQmCC); display:block; height:44px; margin:0 auto -44px; position:relative; top:-22px; width:44px;">
</div>
</div>
<p style=" margin:8px 0 0 0; padding:0 4px;">
<a href="https://www.instagram.com/p/CPQhhV_ndKx/" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">See on Instagram</a>
</p>
</div>
</blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p> During the summer months, pop-up shops known as the Shop Small Boutiques open, adding extra excitement to your riverside stroll. Among these is Accent du Monde, a boutique offering home and lifestyle goods from artisans around the world.
</p><p> From décor to accessories, Accent du Monde’s handcrafted items can be a memento of your visit to Montreal for Formula 1 Pirelli Grand Prix du Canada weekend.
</p><h2>Marché des Éclusiers </h2><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/Cu2LFrCx_-8/?hl=en" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
<div style="padding:8px;">
<div style="background:#F8F8F8; line-height:0; margin-top:40px; padding:50% 0; text-align:center; width:100%;">
<div style="background:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACwAAAAsCAMAAAApWqozAAAAGFBMVEUiIiI9PT0eHh4gIB4hIBkcHBwcHBwcHBydr+JQAAAACHRSTlMABA4YHyQsM5jtaMwAAADfSURBVDjL7ZVBEgMhCAQBAf//42xcNbpAqakcM0ftUmFAAIBE81IqBJdS3lS6zs3bIpB9WED3YYXFPmHRfT8sgyrCP1x8uEUxLMzNWElFOYCV6mHWWwMzdPEKHlhLw7NWJqkHc4uIZphavDzA2JPzUDsBZziNae2S6owH8xPmX8G7zzgKEOPUoYHvGz1TBCxMkd3kwNVbU0gKHkx+iZILf77IofhrY1nYFnB/lQPb79drWOyJVa/DAvg9B/rLB4cC+Nqgdz/TvBbBnr6GBReqn/nRmDgaQEej7WhonozjF+Y2I/fZou/qAAAAAElFTkSuQmCC); display:block; height:44px; margin:0 auto -44px; position:relative; top:-22px; width:44px;">
</div>
</div>
<p style=" margin:8px 0 0 0; padding:0 4px;">
<a href="https://www.instagram.com/p/Cu2LFrCx_-8/?hl=en" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">See on Instagram</a>
</p>
</div>
</blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p> Capture the essence of Montreal charm at Marché des Éclusiers, an open-air gathering space between the Lachine Canal and Saint-Laurent River.
</p><p> Part restaurant, part farmers market, Marché des Éclusiers delivers entertainment, world-class dining, local produce and more. Their rotating offerings mean you'll taste a different flavour of Montreal every visit.
</p><h2>Bota Bota, Spa-sur-l'eau</h2><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/C7ULeIfPaTT/" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
<div style="padding:8px;">
<div style="background:#F8F8F8; line-height:0; margin-top:40px; padding:50% 0; text-align:center; width:100%;">
<div style="background:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACwAAAAsCAMAAAApWqozAAAAGFBMVEUiIiI9PT0eHh4gIB4hIBkcHBwcHBwcHBydr+JQAAAACHRSTlMABA4YHyQsM5jtaMwAAADfSURBVDjL7ZVBEgMhCAQBAf//42xcNbpAqakcM0ftUmFAAIBE81IqBJdS3lS6zs3bIpB9WED3YYXFPmHRfT8sgyrCP1x8uEUxLMzNWElFOYCV6mHWWwMzdPEKHlhLw7NWJqkHc4uIZphavDzA2JPzUDsBZziNae2S6owH8xPmX8G7zzgKEOPUoYHvGz1TBCxMkd3kwNVbU0gKHkx+iZILf77IofhrY1nYFnB/lQPb79drWOyJVa/DAvg9B/rLB4cC+Nqgdz/TvBbBnr6GBReqn/nRmDgaQEej7WhonozjF+Y2I/fZou/qAAAAAElFTkSuQmCC); display:block; height:44px; margin:0 auto -44px; position:relative; top:-22px; width:44px;">
</div>
</div>
<p style=" margin:8px 0 0 0; padding:0 4px;">
<a href="https://www.instagram.com/p/C7ULeIfPaTT/" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">See on Instagram</a>
</p>
</div>
</blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p> This one-of-a-kind floating spa in a retired boat features five levels of relaxation including saunas, steam rooms, a thermal circuit, plunge pools, massage treatments, beauty services and more.
</p><p> During your busy Formula 1 Pirelli Grand Prix du Canada <sup></sup> weekend, stepping into Bota Bota for a few precious hours of serenity is a great way to rejuvenate — all while enjoying views of the city from the Saint-Laurent River.
</p><h2>Le Bateau-Mouche</h2><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/C7hDNQrgJpk/" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
<div style="padding:8px;">
<div style="background:#F8F8F8; line-height:0; margin-top:40px; padding:50% 0; text-align:center; width:100%;">
<div style="background:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACwAAAAsCAMAAAApWqozAAAAGFBMVEUiIiI9PT0eHh4gIB4hIBkcHBwcHBwcHBydr+JQAAAACHRSTlMABA4YHyQsM5jtaMwAAADfSURBVDjL7ZVBEgMhCAQBAf//42xcNbpAqakcM0ftUmFAAIBE81IqBJdS3lS6zs3bIpB9WED3YYXFPmHRfT8sgyrCP1x8uEUxLMzNWElFOYCV6mHWWwMzdPEKHlhLw7NWJqkHc4uIZphavDzA2JPzUDsBZziNae2S6owH8xPmX8G7zzgKEOPUoYHvGz1TBCxMkd3kwNVbU0gKHkx+iZILf77IofhrY1nYFnB/lQPb79drWOyJVa/DAvg9B/rLB4cC+Nqgdz/TvBbBnr6GBReqn/nRmDgaQEej7WhonozjF+Y2I/fZou/qAAAAAElFTkSuQmCC); display:block; height:44px; margin:0 auto -44px; position:relative; top:-22px; width:44px;">
</div>
</div>
<p style=" margin:8px 0 0 0; padding:0 4px;">
<a href="https://www.instagram.com/p/C7hDNQrgJpk/" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">See on Instagram</a>
</p>
</div>
</blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p> With panoramic windows and a glass roof, Le Bateau-Mouche offers an unbeatable dining experience on the Saint-Laurent River. Their three-hour summer dinner cruise includes a full bar, gourmet à la carte dining, and live music.
</p><p> They also offer daytime cruises with a bilingual guide who can show you a whole new side of the city. Whichever you pick, you're in for an experience.
</p><p>
<span></span>From coast to coast, Amex continues to support Canadian small businesses through their <a href="https://sr.studiostack.com/c/link?l=2022351&s=1997703" target="_blank">Shop Small<sup>®</sup></a> initiative. From al fresco dining (on land or water) to unwinding in a floating spa or browsing vibrant pop-up shops, there are so many ways to elevate your race weekend in the Old Port — all while supporting local.
</p><p>
<strong> To discover more local spots to support, check out <a href="https://sr.studiostack.com/c/link?l=2022349&s=1997703" rel="noopener nofollow" target="_blank">Amex Maps</a>. </strong>
</p><h5>* This poll was conducted between January 8-13, 2025 among a sample of 2011 US Adults, 1022 Australia Adults, 1020 Canada Adults, 1015 UK Adults,1025 Japan Adults, 1021 Mexico Adults and, 1023 India Adults who have at least a $50k+ income equivalent and typically travel at least once a year. The interviews were conducted online. Results from the full survey have a margin of error of plus or minus 2-3 percentage points. Some geographies may be weighted with fewer variables depending on local census data availability. </h5>
