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Read the views of: Richard Leighton, global head of FX, Standard Chartered; Chris Mandell, global head of FX, Bank of America; Lars Hakanson, head of Foreign Exchange and Derivatives for Europe and Asia, Société Générale Corporate & Investment Banking; Andrew Brown, global head of FX at HSBC; Fabian Shey, global head of FX distribution, UBS Investment Bank; Ivan Ritossa, global head of FX and head of Asian trading at Barclays Capital; Zar Amrolia, global head of Foreign Exchange at Deutsche Bank; Roger Hawes and Martin Spurr, Royal Bank of Scotland. Expert FX comment by people in the know.

There is a long list of appointments made this year – some recent, some slightly older: Thomas White, Kaushik Dutta, Wilson Quihui Lee, Jeremy Ong, Angela Tan, Kotaro Kunimochi, Hideaki Furumaya, Sean Statuto, Justin Mitrani, Robert Gomprecht, Burt Sheaffer, Joe Landes, Christopher Hughes, Kevin Zhu, Herbert Perez, Siobhan Barry, Gavin Millbank, Ralph Wopshott, KengSuan Goh, Sophie Charlotte Bundle and Sophie Farivarz.

Junpei Yamamoto, Takamoto Osawa, Toshikatsu Furumi and Minako Harimoto.

JPMorgan has confirmed that it has hired Max Leffen, ending his 19-year stint at Bank of America, where he was a managing director in FX sales.

Bond yields moving towards higher levels spells out a new environment in which good returns from bonds and shares will be hard to come by. Watch for further USD vulnerability.

“It’s like hearing that a distant maiden aunt has died and left you nothing in her will,” a source said acerbically. Source was referring to the departure last week of Danny Palmer, former global head of capital markets at HSBC.

Imminent competition between execution ventures is likely to mean more trading and therefore more money for everyone.

In the second part of our debate on FX, we examine the buy side as it develops its interest in new instruments such as exotic options, and examine key areas of innovation such as prime brokerage and e-commerce.

Brazil’s market-leading ethanol producer, Cosan, recently made a U-turn on strategy that says a lot about the overheated market for the chemical. The firm rushed out announcements that it would shift from an acquisitive strategy to one that emphasized organic growth, including upgrades of existing facilities and mechanization of the sugar harvest, as well as expansion in less-competitive geographical areas. It blamed prices that it said were "in the clouds" for the rethink. At a hastily convened press conference, managers said that the price of acquisitions in the sector had risen by 147% between April 2005 and January to April of this year, according to the firm’s own calculations.

Challenges of running prop and client money prove too much for Dillon Read Capital Management.

Retailer offers useful consumer sector diversification away from Chinese real estate names.

The Colombian government’s decision to impose further capital controls in order to hinder the peso’s rapid appreciation amounts to "bad policy-making", according to Walter Molano of BCP Securities. In a research note on May 25 Molano said: "Colombia is one of the few emerging market countries that is not taking advantage of the commodity boom. Instead of focusing on its vast natural resource base, Colombia is exploiting the special relationship it enjoys with the US to secure quotas and preferential tariffs for light manufacturers – particularly textiles and clothing." The new regulations extend yet further the compulsory deposit requirements for investors.