Friday's confirmed joint intervention appears to be doing double duty, supporting the yen directly while also pushing Japanese short-dated yields to fresh highs as markets price in a higher probability of an early BOJ rate hike. ---The yen is finding its footing as markets bet Tokyo will now back Friday's intervention with actual rate hikes. Yields move inversely to bond prices, meaning the moves reflect investors selling short-dated debt on growing conviction that a rate hike is drawing closer. Strategists said the joint intervention has effectively raised the bar for what Japan needs to do to keep the yen supported. The rate hike speculation follows the BOJ's decision on Friday to hold its policy rate steady, even as the central bank issued an unusually direct warning that underlying inflation could exceed its target, with future policy discussions to focus on upside price risks.