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EMERGING MARKETS-Chilean, Colombian pesos outpace Latam FX on commodity gains

    Dec 28 (Reuters) - Chilean and Colombian currencies outpaced
their Latin American peers on Monday, tracking higher copper and
oil prices as demand prospects improved after U.S. President
Donald Trump signed a coronavirus relief package.
    Trump late on Sunday signed the $2.3 trillion relief and
spending bill, restoring unemployment benefits to millions,
after backing down from a fight with lawmakers that could have
shut down the federal government.
    Chile's peso added 0.6% to the dollar. The country is
the world's largest exporter of copper.
    Prices of copper, which is a bellwether for global economic
activity, rose for a third straight session as the passing of
the stimulus bill raised hopes of improving demand trends in the
near term, even as the rapid spread of the coronavirus weighed
on sentiment.
    Crude exporter Colombia's peso rose 0.5%, tracking
gains in oil prices after the signing of the stimulus bill.

    MSCI's basket of Latin American currencies
dropped nearly 0.7% while stocks edged higher in
subdued holiday trade. 
    Brazil's real fell 1.2%, while the Mexican peso
 fell 1% .
    Mexico's peso dropped after its government issued new
regulations to limit the ability of private companies to import
fuel, according to a weekend decree, fanning concerns that the
move may unduly benefit national oil company Petroleos Mexicanos
(Pemex).
     The real reversed early gains even after Brazil's
industrial confidence in December rose to its highest in over a
decade, as the sector continues to rebound strongly from the
coronavirus lockdown, a survey showed on Monday.
    Most other global risk assets gained as investors cheered a
last-minute trade deal signed between Britain and the European
Union last week, just seven days before London exits one of the
world's biggest trading blocs.
    
    Key Latin American stock indexes and currencies:
                              Latest    Daily % change
 MSCI Emerging Markets         1251.85           -0.27
                                        
 MSCI LatAm                    2405.85           -0.79
                                        
 Brazil Bovespa              118376.25            0.48
                                        
 Mexico IPC                   43660.37            0.66
                                        
 Chile IPSA                    4175.29            0.99
                                        
 Argentina MerVal             51266.13          -0.684
                                        
 Colombia COLCAP               1420.40           -0.13 Currencies             Latest    Daily % change
 Brazil real                    5.2953           -1.71
                                        
 Mexico peso                   20.0981           -1.20
                                        
 Chile peso                      710.1            0.48
                                        
 Colombia peso                  3492.3            0.59
 Peru sol                        3.614           -0.11
                                        
 Argentina peso                83.9000           -0.64
 (interbank)                            
                                        
 
 (Reporting by Shashank Nayar in Bengaluru; editing by Jonathan
Oatis)
  
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