EMERGING MARKETS-Strong growth numbers lift Mexico's peso

       * Mexico's Q1 growth slightly stronger than estimated
    * Optimism for Brazil's Bovespa tempered as fears grow over
vote -poll
    * Consumer confidence in Brazil falls to 75.5 in May

    By Bansari Mayur Kamdar
    May 25 (Reuters) - The Mexican peso edged up on Wednesday
after the country posted stronger-than-expected growth numbers,
but gains were capped by a rebound in the dollar ahead of
minutes from the U.S. Federal Reserve's last monetary policy
    The peso inched up 0.1% after data showed Latin
America's No. 2 economy grew slightly faster in the first
quarter than initially estimated amid a recovery in
manufacturing and services.
    "Today's stronger growth rate gives them (central bank) a
little bit more support so they can back the cycle and keep the
600 basis points spread between Mexican and U.S. policy rates,"
said Chris Turner, global head of FX Strategy at ING.
    Separately, Mexico posted a $4.316 billion trade deficit in
April when adjusted for seasonal swings.
    The MSCI's index of Latin American currencies
 climbed 0.2%, while stocks
gained 0.1%.
    The dollar index rose 0.4%, weighing on riskier
currencies, in a market attentive to the Fed minutes for clues
on the path of future interest rate hikes from the world's most
influential central bank.
    A weakness in China's yuan also weighed on Latin
American currencies, added Turner.
    Copper prices fell amid concerns that slowing economic
growth and COVID-19 lockdowns in top consumer China would hurt
demand, dragging leading copper exporter Chile's peso
down 0.6%.
    Brazil's real ticked 0.2% lower after data
showed consumer confidence in the south American country fell to
75.5 in May from 78.6 in April. The Bovespa shares index
fell 0.3%, underperforming its regional peers.
    A recent Reuters poll showed that Brazilian stocks will rise
less than previously expected this year as fears over October's
presidential vote tarnish the outlook for the second half and
double-digit interest rates prompt a switch to deposit accounts.

    The Colombian peso rose 0.8% against the dollar. The
country is expected to vote for president on Sunday amid high
polarization and grating inequality worsened by price rises,
despite a post-pandemic economic recovery.
    Elsewhere, Turkey's lira slid beyond 16.35 against
the dollar to its weakest level since the depths of a December
crisis, as analysts questioned authorities' ability to continue
steadying it without new sources of foreign currency.

    The Russian ruble reversed its rally and fell
sharply past 60 to the dollar after the central bank announced
an off-schedule rate meeting.

    Key Latin American stock indexes and currencies at 1451 GMT:

          Stock indexes                  Latest   Daily %
 MSCI Emerging Markets                   1018.97     0.19
 MSCI LatAm                              2398.50      0.1
 Brazil Bovespa                        110444.24    -0.12
 Mexico IPC                             51547.04     0.47
 Chile IPSA                              5169.82     0.53
 Argentina MerVal                       91271.67    1.027
 Colombia COLCAP                         1491.41     0.58

             Currencies                  Latest   Daily %
 Brazil real                              4.8277    -0.36
 Mexico peso                             19.8152     0.08
 Chile peso                                833.4    -0.42
 Colombia peso                           3943.19     0.66
 Peru sol                                   3.69     0.27
 Argentina peso (interbank)             119.1000    -0.13

 Argentina peso (parallel)                   205     0.73

 (Reporting by Bansari Mayur Kamdar and Shreyashi Sanyal in
Bengaluru; editing by Jonathan Oatis)

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