Carry traders have been wincing as the GBP/JPY has been declining during the past few months. Elevated risk levels have been sending the value of the Japanese yen (JPY) through the roof, and we're all wondering when/if the pain is going to stop.
The GBP/JPY has been steadily climbing since late 2000---making many carry traders too complacent. If they don't wake up soon, they're going to lose a lot more money.
