This article exists as part of the online archive for HuffPost Canada, which closed in 2021.

Canadian Dollar Is Basically Leo In 'The Revenant.' Here's Why.

(N. One who has returned, as if from death.)

Take National Bank's word for it. It compared the loonie to "The Revenant," the revenge thriller starring Leonardo DiCaprio as a fur trapper who crawls back to his camp after a bear leaves him for dead.

And it's easy to see why. The loonie has clambered to approximately $1.35 against the U.S. dollar after falling as low as $1.46 earlier in 2016.

"Mauled by bears and left for dead just a few weeks ago, the Canadian dollar is now back with a vengeance," a National Bank report stated.

The dollar's value has benefitted from a falling U.S. greenback, and markets are looking positively at Canada because of the promise of an upcoming federal stimulus.

And National Bank doesn't expect the dollar's value to stop growing, either. It suggested the loonie could climb as high as $1.32 by the end of the year.

But the bank cautioned change wouldn't come smoothly: "Currency volatiliby is the name of the game, more so with Canada's dependence on short term foreign inflows and much uncertainty with regards to commodity prides and Fed policy."

News of the dollar's rise comes as Canadian GDP grew by 0.8 per cent in the fourth quarter of 2015, defeating analyst projections of zero growth.

Also on HuffPost:

Bank of Montreal Dollar - 1825

Canadian Dollar Through History

This article exists as part of the online archive for HuffPost Canada. Certain site features have been disabled. If you have questions or concerns, please check our FAQ or contact