CORRECTED-EMERGING MARKETS-Latam currencies flat against firmer dollar; Brazil's real outshines

 (Corrects paragraph 3 to say U.S. and China "agreed to" an
interim trade deal, not "signed")
    * Brazil's real up for first time in three sessions 
    * Mexican peso dips after inflation data 
    * Dollar stands near two-week highs 

    By Shreyashi Sanyal and Sagarika Jaisinghani
    Dec 23 (Reuters) - Latin American currencies traded in a
tight range on Monday, as the dollar firmed after solid U.S.
economic data, while Brazil's real was on course to rise after
two straight sessions of declines. 
    The dollar stood near two-week highs after data published on
Friday showed the U.S. economy, already enjoying a record
expansion, maintained its moderate growth as the year ended.

    The MSCI's index of Latin American currencies
 was flat on Monday, after having posted three
consecutive weeks of gains arising largely from risk-on buying
after the United States and China agreed to an interim trade
    "Things have had a good run recently and we're now just
seeing low volumes, low volatility and a small little profit
taking," said David Madden, analyst at CMC Markets.
    Analysts also said that any significant moves in currencies
were unlikely this week, given the light economic calendar
before the holidays.   
    Brazil's real, however, edged higher for the first
time in three sessions. 
    President Jair Bolsonaro said late on Friday that U.S.
President Donald Trump told him in a phone conversation that the
United States will not levy new tariffs on Brazilian steel and
aluminum as threatened earlier this month.    
    The Mexican peso dipped against the dollar as data
from national statistics agency INEGI showed consumer prices in
the first half of December slipped well below the central bank's
3% target.
    The report likely paves the way for the Bank of Mexico to
keep cutting the benchmark interest rate. The central bank on
Thursday cut rates, on softening headline inflation and slack in
the economy but highlighted concern that a recent minimum wage
hike could stoke price pressures. 
    "Soft inflation will allow Mexico's central bank to continue
its easing cycle. We expect a further 50 bps of rate cuts over
the coming months," said Nikhil Sanghani an economist at Capital
    Key Latin American stock indexes and currencies at 1416 GMT;
       Stock indexes                 Latest    Daily % change
 MSCI Emerging Markets                1109.31            0.15
 MSCI LatAm                           2901.76            0.05
 Brazil Bovespa                     115246.84            0.11
 Mexico IPC                                 -               -
 Chile SPIPSA                         4743.09            0.15
 Argentina MerVal                           -               -
 Colombia Colcap                            -               - Currencies                Latest    Daily % change
 Brazil real                           4.0726            0.53
 Mexico peso                          18.9640           -0.13
 Chile peso                             752.6            0.11
 Colombia peso                        3325.73            0.10
 Peru sol                              3.3058            0.25
 Argentina peso (interbank)                 -               -
 (Reporting by Shreyashi Sanyal and Sagarika Jaisinghani in