Here's what you need to know for Friday, April 1st:

The euro on Thursday raised fears that Russia could thwart energy exports to the countries, driven by Russian President Vladimir Putin's request for European countries to pay for Russian gas in rubles. The euro fell as investors worried about EU/Russia economic tensions.

This has been interpreted as a setback to recent optimism, alleged progress in the Russia-Ukraine peace talks that resumed on Friday. Thus, EUR/USD fell 0.8% from intraday highs near 1.1200 to current levels in the mid-11000s, making it the worst performing G10 currency.

Weakness in EUR/USD helped DXY rise as the trade-weighted index of major USD pairs rose 0.5% to 98.30 from weekly lows in the 97.70 region.

The increase had little to do with another spike in US inflation in February, according to the Core PCE Price Index, or the latest weekly jobless claims numbers, both of which support the economic rationale behind the Fed's latest statements. Indeed, against the rest of the G10 currencies, the US dollar was pretty mixed, and the focus is now on the release of the official US labor market report for March on Friday.

In the Stock Exchange Today

The best-performing G10 currency was the Japanese Yen, again with the safe-haven currency benefiting from the downward trend in global equity market trading and global bond yields. Thus, after weeks of poor performance, it continued its overdue month/quarter recovery.

USD/JPY stabilizes below 122.00 while bears are looking for a 120.00 retest. Meanwhile, GBP/USD is up a bit on the day, but stays in the last intraday ranges in the mid-1.3100s and is capped by its 21-Day Moving Average.

USD/CAD was flat and managed to ignore the sharp losses in the crude oil complex as a result of the announcement of the release of a historic Strategic Oil Reserve from the US (1 million barrels per day for the next six months). The pair remained below the 1.2500 level.

AUD/USD slumps 0.3% back below 0.7500 but stays close to multi-month highs in recent ranges and mid-0.7500s, while NZD/USD is down 0.6% to 0.6950 lows. This week's approximate expectation is the middle of the 0.6875-0.7000 range.