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CARBON (€/T) TUE WED VAR D-1 VAR W-1AVG.MAXMIN 31/31/4FROM THE BEGINNING OF THIS YEARCO2 EUA DEC 202672.51 74.642.133.977.6092.2463.65CO2 EUA DEC 202775.13 77.302.174.0479.9294.8065.92CO2 EUA DEC 202877.77 79.992.224.2182.4697.7368.21UK ETS DEC 26 EUR 47.85 48.770.924.8860.4784.0240.13UK ETS DEC 27 EUR 50.41 51.390.985.0563.1987.6142.32UK ETS DEC 28 EUR 52.86 54.041.185.2466.2391.4644.79On Wednesday, European carbon prices reached a seven-week high asEuropean Commission proposals underwhelmed the market. The decision toretain MSR allowances and delay allocation rules implied no immediateincrease in supply, postponing clarity until July. Consequently, the EUAsexpiring in Dec-2026 climbed by 3% at 74.64 EUR/tonne.CO2 EUAEXCHANGE RATES TUEWEDVAR D-1 VAR W-1AVG.MAXMIN 31/31/4FROM THE BEGINNING OF THIS YEARRATE EUR/USD1.1498 1.16050.01070.00131.16991.19741.1476RATE EUR/GBP0.8683 0.87110.00280.00550.86840.87630.8616RATE GBP/EUR1.1516 1.1479-0.0037-0.00741.15151.16061.1412The EUR/USD pair increased by 1% to 1.1605 as improved US-Iran waroutlook lifted risk appetite, boosting the Euro. US economic data, including aslightly stronger ISM Manufacturing PMI, ADP employment, and Retail Sales,drew little reaction.The EUR/GBP rate edged 0.3% higher at 0.8711, after Eurozone PMI revisionsshowed March activity at 51.6, the highest in nearly four years. Gains were ledby Germany and Italy, offset partially by stagnation in France and a contractionin Spain.