The Bernanke selection signals to the market that there will be less concern over inflation and over a weakening dollar. As he is famous for his "We have a thing called a printing press" quote, which was in response to how we should fight falling prices. Therefore the dollar and U.S. bonds and notes fell on the news of his selection, as they are the financial instruments most harmed by inflation.
For the many on FR that think a weak dollar is the path to economic growth, they are obviously pleased. There was a time when it was only the Democrats who wanted to devalue our currency because they felt it helped the union manufacturing workers and hurt the wealthy "savers" or Republicans. The weak dollar goal is yet another new Bush doctrine that is against traditional Republican policy.
The week dollar policy goes all the way back to Paul Volker and Greenspan has continued it, so what is going to change now?