TOKYO, Aug 7 (Reuters) - Japan's two-year government bond

yield rose to a 31-year high on Friday as bets for an early rate

hike by the Bank of Japan grew after the yen weakened.

Here are a few details:

* The two-year yield, most sensitive to BOJ's

policy rates, rose 4.5 basis points to 1.605%, its highest since

May 1995.

* The five-year yield rose 5.5 bps to 2.08%.

Yields move inversely to bond prices.

* "This is an ongoing bet since the government intervention

in the currency market last week," said Shuichi Ohsaki, senior

portfolio manager at Meiji Yasuda Asset Management.

* "The bets that the BOJ would raise rates as early as

September revived today because the yen weakened," he said.

* Japan and the United States launched a rare joint

yen-buying intervention last week and vowed to take further

action if needed to shore up the currency.

* The U.S. dollar rose against the Japanese yen overnight,

helped by safe-haven positioning from investors awaiting details

on a proposed deal to end the Iran conflict and ahead of

Friday's monthly U.S. jobs report.

* The 10-year JGB yield rose 3.5 bps to

2.795%.

* The 20-year JGB yield was up 2 bps to

3.66%. The 30-year yield rose 1 bp to 3.91%.

(Reporting by Junko Fujita; Editing by Mrigank Dhaniwala)