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CARBON (€/T) THUFRI VAR D-1 VAR W-1AVG.MAXMIN 16/417/4FROM THE BEGINNING OF THIS YEARCO2 EUA DEC 202674.99 77.462.474.6276.9892.2463.65CO2 EUA DEC 202777.51 79.972.464.6279.3494.8065.92CO2 EUA DEC 202880.14 82.602.464.6181.8997.7368.21UK ETS DEC 26 EUR 57.98 59.311.339.558.9984.0240.13UK ETS DEC 27 EUR 60.85 62.201.359.8261.6987.6142.32UK ETS DEC 28 EUR 63.84 65.171.3310.1164.6891.4644.79European carbon prices moved higher on Friday, accelerating later in the dayon signs of easing tensions in the Middle East. Expectations that a resolution tothe US–Iran conflict could limit economic disruption, and thereby sustainemissions, supported prices. Consequently, the EUAs expiring in Dec-2026soared by 3.3% to 77.46 EUR/tonne.CO2 EUAEXCHANGE RATES THUFRIVAR D-1 VAR W-1AVG.MAXMIN 16/417/4FROM THE BEGINNING OF THIS YEARRATE EUR/USD1.1782 1.17970.00150.00861.16941.19741.1476RATE EUR/GBP0.8699 0.87170.00180.00070.86890.87630.8616RATE GBP/EUR1.1495 1.1472-0.0023-0.00081.15091.16061.1412The EUR/USD pair inched up to 1.1797 as improved risk sentiment from Iranreopening the Strait of Hormuz weighed on the dollar, though uncertaintypersists after Trump reiterated the blockade remains in place pending a finaldeal.Meanwhile, the EUR/GBP rate edged 0.2% higher at 0.8717, with the eurosupported by stronger Eurozone inflation data, while the pound remained underpressure due to cautious Bank of England signals. Eurozone HICP was revisedhigher to 2.6% YoY in March, its highest since mid-2024, reinforcingexpectations of a potentially more hawkish ECB at its April meeting.