RMB spot rate appreciated by 0.2% in the past week, largest single week increase in a year. Several factors moved the fx rate up: 1) 2Q macro data (GDP growth, HSBC PMI etc) all showed the economy was stablizing which eliminated concerns for hard-landing; 2) expectations that government will keep releasing mini-stimulus to meet the growth goal; 3) returning appetite for China. 28 more words