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CARBON (€/T) MON TUE VAR D-1 VAR W-1AVG.MAXMIN 16/317/3FROM THE BEGINNING OF THIS YEARCO2 EUA DEC 202669.00 66.65-2.35-6.2679.1692.2466.65CO2 EUA DEC 202771.31 68.88-2.43-6.381.4494.8068.88CO2 EUA DEC 202873.72 71.26-2.46-6.383.9897.7371.26CO2 EUA DEC 202976.46 73.92-2.54-6.3486.91101.0473.92UK ETS DEC 26 EUR 44.30 42.94-1.36-2.4463.8684.0242.94UK ETS DEC 27 EUR 46.43 45.15-1.28-2.466.6487.6145.15UK ETS DEC 28 EUR 48.92 47.61-1.31-2.4269.8091.4647.61On Tuesday, European carbon prices fell to a more than 10-month low amidsignals that the European Commission plans to expand the market stabilityreserve (MSR), coupled with expectations of the March options expiry onWednesday. Consequently, the EUAs expiring in Dec-2026 dropped by 3.4% to66.65 EUR/tonne.CO2 EUAEXCHANGE RATES MONTUEVAR D-1 VAR W-1AVG.MAXMIN 16/317/3FROM THE BEGINNING OF THIS YEARRATE EUR/USD1.1478 1.15310.0053-0.0111.17301.19741.1476RATE EUR/GBP0.8641 0.86430.0002-0.00120.86890.87630.8616RATE GBP/EUR1.1573 1.1570-0.00030.00151.15091.16061.1412The EUR/USD pair edged 0.5% higher at 1.1531 as the dollar weakened aheadof Wednesday’s Fed rate decision, with markets expecting rates to remain at3.50%-3.75%. Investors are watching Chair Powell’s guidance for clues oninflation amid rising oil prices and a softening labour market.The EUR/GBP rate held at 0.8643 as the ECB and BoE are both expected tokeep rates steady at 2% and 3.75%, respectively, with UK employment data infocus.