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CARBON (€/T) TUE WED VAR D-1 VAR W-1AVG.MAXMIN 21/422/4FROM THE BEGINNING OF THIS YEARCO2 EUA DEC 202675.70 74.41-1.290.2676.9292.2463.65CO2 EUA DEC 202778.23 76.94-1.290.2779.2894.8065.92CO2 EUA DEC 202880.84 79.53-1.310.2181.8497.7368.21UK ETS DEC 26 EUR 56.45 54.78-1.670.8258.8984.0240.13UK ETS DEC 27 EUR 59.39 57.66-1.731.0561.6087.6142.32UK ETS DEC 28 EUR 62.41 60.69-1.721.0964.6091.4644.79Carbon markets in Europe softened on Wednesday, as traders moved to thesidelines before options expiry and awaited updates on Iran negotiations.Speculators continued to scale back exposure amid macro uncertainty andahead of the July ETS review. The EUAs expiring in Dec-2026 fell by 1.7% to74.41 EUR/tonne.CO2 EUAEXCHANGE RATES TUEWEDVAR D-1 VAR W-1AVG.MAXMIN 21/422/4FROM THE BEGINNING OF THIS YEARRATE EUR/USD1.1767 1.1733-0.0034-0.00471.16961.19741.1476RATE EUR/GBP0.8703 0.8690-0.0013-0.00030.86890.87630.8616RATE GBP/EUR1.1490 1.15070.00170.00041.15091.16061.1412The EUR/USD pair edged 0.3% lower at 1.1733 as geopolitical risks and higheroil prices kept inflation concerns elevated, reinforcing expectations of prolongedFed restraint and potential ECB tightening.The EUR/GBP rate slipped by 0.2% to 0.8690 after stronger UK inflation databoosted the pound, with CPI rising to 3.3% YoY in March, driven by energycosts, though core inflation eased to 3.1%. This supports expectations that theBoE will stay cautious on rate cuts. Eurozone consumer confidence fell to -20.6in April, pointing to weakening sentiment across the bloc.