EMERGING MARKETS-LatAm FX under pressure as dollar strengthens

By Pranav Kashyap

Sept 2 (Reuters) - Most Latin American currencies fell on Tuesday against a stronger dollar amid renewed global bond-market pressure, as investors digested regional data and awaited this week's key U.S. jobs report.

The MSCI index for Latin American currencies .MILA00000CUS declined 0.55%, while a similar gauge for stocks MILA00000PUS slipped 0.39%.

The dollar index =USD jumped 0.73% due to a broader rise in bond yields, driven by growing worries about fiscal pressures worldwide.

The greenback's next moves will hinge on Friday's U.S. non-farm payrolls report, which could shift market expectations for the Federal Reserve's September policy decision.

In Latam, the Brazilian real BRL= fell 0.57%, while the country's main index .BVSP dropped about 0.7%, as second-quarter GDP showed a steep slowdown, though it outperformed market expectations.

Although inflation has eased, it remains above the central bank's target range, prompting caution.

"Brazil's economy is like driving with your foot on the accelerator, your foot on the brake at the same time," said David Nicholls, emerging markets portfolio manager at East Capital.

However, the economic slowdown, coupled with an improving inflation outlook, provides Brazil's central bank with scope to begin lowering interest rates after maintaining them at a near two-decade high in July.

"You're not seeing the outflows, but you're not seeing inflows as well. When we start to see rates come down, you will start to see more of local investors coming in," Nicholls added.

Argentine assets drew attention ahead of elections in Buenos Aires on September 7 and midterm polls in October.

The Argentine peso ARS=, ARS=RASL, which hit a record low in the previous session, rose 1.45% after the Treasury said it would intervene in the foreign exchange market to boost liquidity and stabilize the currency amid mounting uncertainty ahead of the midterm elections.

Stocks in Buenos Aires .MERV climbed 1.32%.

The Mexican peso MXN= slipped 0.4%, while the main stock index .MXX surged 1.5% to reach an all-time high, driven by gains in lender Banorte GFNORTEO.MX and the Mexican unit of retailer Walmart WALMEX.MX.

Chile's peso CLP= fell 0.7% to a near one-month low, while its benchmark index .SPIPSA edged up 0.3%.

Colombian stocks .COLCAP declined 0.8%, while the country's currency COP= gained 0.2%, hitting a new record peak.

Among individual stocks, Brazilian state-run lender Banco do Brasil BBAS3.SA dropped 2.7% as the final phase of former President Jair Bolsonaro's criminal trial commenced .

Meanwhile, stocks in Turkey were also in focus, falling after a court ousted Istanbul's provincial opposition chief. Turkish stocks .XU100 fell 3.57%, their steepest daily fall in over five months, as the lira TRY= touched a record low.

The ouster represents the latest judicial challenge to critics of President Tayyip Erdogan, amid an unprecedented crackdown that has seen 15 opposition mayors, including Istanbul's Ekrem Imamoglu, detained.

Key Latin American stock indexes and currencies: