He was always sweet and funny. If you needed something like a pencil or a piece of paper, he'd always give you one, even if he had to sacrifice his own.

In context, those comments might have seemed fairly acceptable. But the market goes by headlines, and seeing that headline, the market sold the dollar.

I just felt like we owed it to him since he was so nice to us.

[Snow's comment] really does undermine the credibility of the U.S. strong dollar policy.

I think it's going to go further. The story's been the same for some time with the euro - the currency appears to ignore the good European economic news and latch on to the bad European news.

The market is trying to get to grips with which of the two schools of thought is right.