Many obligators temporarily lost their technical ability to pay on time, leaving those counting on receiving payments caught short. The pressures ultimately ended up concentrated in banks. Those needs were met by the Federal Reserve, both through record lending at the discount window and through an extraordinary infusion of funds through open market operations.
But that doesn't mean that adjusting to it has been easy. Adjusting to such an appreciation in the external value of the dollar can be difficult for many companies and workers, especially when competition is fierce, as it is now. But a strong dollar also presents opportunities.