Understanding Carry Trade Profit Mechanism

In the context of foreign exchange markets, a carry trade involves borrowing funds in a currency with a low interest rate and investing them in a currency with a higher interest rate. This strategy aims to profit from the interest rate differential between the two currencies.

Consider an investor who borrows Japanese yen at a low interest rate and converts the proceeds into Australian dollars to invest in Australian government bonds that offer a higher yield. How does this strategy primarily generate profits for the investor?