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EMERGING MARKETS-LatAm currencies rise as Republican tax plan hits dollar

MEXICO CITY, Nov 2 (Reuters) - Latin American currencies rose sharply against the dollar on Thursday, with the Mexican peso hitting a two-week high, as the greenback fell broadly on a proposal to overhaul the U.S. tax code. Analysts said the proposal put forth by U.S. House Republicans was unlikely to gather sufficient support in Congress and unlikely to have significant impact on the U.S. economy. "Massive" tax cuts had been a major campaign promise of U.S. President Donald Trump. Markets in Mexico and Brazil, Latin American's two biggest economies, remained closed on Thursday due to local holidays. Mexico's peso gained 0.83 percent to 18.9250, following its worst monthly loss in around a year in October. In Chile, the peso gained 0.86 percent to 629.80 on the back of the weaker dollar and stronger prices for top export copper. Meanwhile, the Colombian peso jumped 1.21 percent to 3027.8.

Key Latin American stock indexes and currencies at 18:12 GMT:

Stock indexes daily % YTD % Latest change change MSCI Emerging Markets 1128.01 -0.08 30.93 MSCI LatAm 2802.80 0.23 19.47 Brazil Bovespa 73823.74 -0.65 22.58 Mexico IPC 48334.45 -0.6 5.90 Chile IPSA 5499.07 -1.59 32.46 Chile IGPA 27637.15 -1.4 33.29 Argentina MerVal 27696.20 -1.01 63.71 Colombia IGBC 10636.03 -1.18 5.02 Venezuela IBC 713.29 2.55 -97.75 Currencies daily % YTD % change change

Latest

Brazil real 3.2673 -0.12 -0.55 Mexico peso 18.9250 0.82 9.61 Chile peso 627.8 1.30 6.83 Colombia peso 3027.8 1.21 -0.87 Peru sol 3.238 0.37 5.44 Argentina peso 17.5000 0.69 -9.29

(interbank)

Argentina peso 17.98 0.28 -6.45

(parallel)

(Reporting by Anthony Esposito; Editing by Andrew Hay)