Published by Zeb BhamThe yuan was steady against the dollar this morning (June 29th) as traders saw few prospects for sharp upward movements in upcoming sessions.There has been intensified interest in the currency since the People's Bank of China decided to lift the yuan's peg to the dollar last week.Since the beginning of the financial crisis, the central bank has placed caps on the upper and lower limit at which the yuan can trade against the dollar.As such, on any given day the currency would rarely move more than a few pips in either direction.Reuters data shows that since the decision to lift the peg, average daily movements last week topped 200 pips, although trading this week indicates that the currency pair is stabilising.This morning, forex spot prices on the yen were trading within a range of 43 pips.Speaking anonymously to the news provider, an Asian bank dealer in Shanghai commented: "Market expectations of yuan appreciation have cooled since the G20 summit, with many believing last week's brief spike in the yuan against the dollar was only a goodwill gesture from China to the summit."For more information on foreign exchange treasury services and risk management, visit our Corporate FX site