• Oil drop (Brent crude -0.8%) provides mild reprieve for EUR/USD

• However, the pair remains overvalued relative to nominal yield spreads

• Rising Tsy yields and geopolitical tensions remain favourable to the dollar

• Key resistance situated at 1.0635 also continues to cap upside

• EZ PMIs, Q3 bank lending survey and ECB policy decision in focus

• Particular attention will be placed on the ECB's discussion around PEPP

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