The Australian dollar reached the highest level in five months against its US counterpart as fundamental data was positive all around the world, leading to a rally of stocks.

US dollar is rising as Greece once again takes center stage in the world markets. Greenback is gaining as concerns about what’s next for Greece — and the eurozone — weighs on risk currencies, especially the euro.

The Chinese yuan appreciated today after the week-long holiday in China as the Federal Reserve pledged to keep interest rates low, weakening the US currency.

The Malaysian ringgit rose today as investment environment looked good for currencies of emerging markets amid growth of the US economy and hopes for Europe.

US dollar is falling today, thanks to upbeat news out of China and Europe. With risk appetite on the rise, there is little demand for the safety and stability of the US dollar. Forex traders are, instead, turning to higher yielding currencies.

The Brazilian real climbed today after a report about slowing economic growth in China lead to speculation that the Asian nation will stimulate its economy, increasing attractiveness of commodity currencies.

Aussie is struggling higher against the US dollar today, working to regain some of the losses due to the latest Chinese inflation report. Aussie is running into some trouble, though, as Forex traders move between risk appetite and risk aversion. Conflicting signals are the order of the day.

The New Zealand dollar gained after China’s inflation decelerated, spurring speculation that China will stimulate the slowing economic growth, boosting prospects for New Zealand exports.

The US dollar advanced this week, reaching a 17-month high against the euro, as concerns about the debt crisis in Europe persisted, while the economy of the United States continued to recover.

The Chinese yuan was weaker today after the nation’s central bank cut the daily reference rate on concerns that the continuing European crisis would hurt growth prospects.