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EMERGING MARKETS-Latam FX subdued as focus turns to Fed

July 9 (Reuters) - Most Latin American currencies made small moves against the dollar on Tuesday as investors awaited clues on U.S. monetary policy from the U.S. Federal Reserve officials. With financial markets closed in Brazil and Argentina for a local holidays, trading was largely muted ahead of Fed chief Jerome Powell's testimony to the Congress and release of minutes on Wednesday from the U.S. central bank's last policy meeting. Emerging markets have enjoyed capital inflows this year on signs major central banks would embrace a looser monetary policy as a result of trade disputes and growth concerns. However, strong U.S. jobs data on Friday all but ended expectations of a bold interest rate cut from the Fed at its meeting this month, leaving investors in search of hints on where rates are headed. The Mexican peso strengthened slightly after data showed consumer prices rose 3.95% in the year through June, in-line with estimates. Mexico's central bank targets inflation of 3%. Mexican President Andres Manuel Lopez Obrador said a U.S. countervailing duty investigation of Mexican fabricated structural steel does not affect a new North American trade pact and had no relation to earlier tariff threats by U.S. President Donald Trump. The Chilean peso fell about 0.3% as prices of copper, the country's top export, fell to a three-week low.. The Colombian peso was little changed. In a potential boost to Brazil's markets on Wednesday, surveys showed public and political support for pension reform in Brazil had never been higher as the lower house of Congress prepares to vote on the government's economic reform bill later in the day.

Latin American stock indexes and currencies at 1317 GMT

Stock indexes daily %Latest changeMSCI Emerging Markets 1042.45 -0.36MSCI LatAm - -Brazil Bovespa - -Mexico IPC - -Chile IPSA - -Argentina MerVal - -Colombia IGBC - -Currencies daily %

change Latest

Brazil real - -Mexico peso 18.8949 0.08Chile peso 689.62 -0.28Colombia peso 3216.8 0.03Peru sol - -Argentina peso - -

(interbank)

(Reporting by Sruthi Shankar in Bengaluru)