Euro Markets: EUAs breach key level to hit 11-week high, while UKA auction clears highest in 2 years

EU carbon prices resumed their rally on Wednesday, testing a key psychological level after weekly position data showed speculative traders had built up their largest bullish bet in five months and market sentiment appeared to be shifting to a more cautiously optimistic tone, while the fortnightly UKA auction cleared at the highest price in more than two years.