FX weekly: Time for the EU to strike back on Biden with excessive spending?

Quote of the week: “…the United States first and foremost is engaged in an ambitious and effective and, so far, successful effort to vaccinate the American people.” – Ned Price, State Department spokesperson The US decision to ban raw material exports to its Quad ally India is another win by China and Russia. The ban will severely affect India’s vaccine production capacity. Aggravating your supposed allies is not a good idea, we think. In the longer term, can the US really afford a new cold war against China, Russia and Iran while building back better with a green new deal – without several large successful … (full story)

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