"Analysts said the yen has also been pressured by growing appetites for risk among Japanese individuals who are borrowing in yen to fund positions in higher-yielding currencies.Currency trading by Japanese individuals rose to record $11 billion per day in the fiscal year ended in March -- a threefold increase from a year earlier, according to figures from Tokyo firm Yano Research Institute Ltd. as cited in a Bloomberg report Yano Research publishes an annual report on Japanese currency trading."
It is one thing to take yen that you've saved up to speculate in foreign exchange; it is quite another to speculate on margin. This isn't likely to end well for a significant number of these individuals...
