EMERGING MARKETS-Latam FX slips on trade uncertainty, Brazil's real eases off record lows

* U.S.-China trade jitters weigh on sentiment * Mexican peso, Peruvian sol dip * Brazil real firms after five day slide to record low (Updates prices, adds news items) By Medha Singh and Shreyashi Sanyal Nov 19 (Reuters) - Most Latin American currencies were lower on Tuesday as lack of clarity on U.S.-China trade developments kept investors on the sidelines but Brazil's real bounced off all time lows. The real firmed about 0.5% after the currency crossed a key mark at 4.20 to the dollar to hit a record low in the previous session when there was no central bank intervention. Central bank chief Roberto Campos Neto said on Tuesday the exchange rate was not fueling inflation or inflation expectations, indicating policymakers were relatively relaxed and that intervention was not imminent. The bank was due to sell up to $600 million through reverse currency swaps on Tuesday, but later canceled the auction ahead of a market holiday on Wednesday. "From a purely fundamental perspective, the real is undervalued at the moment, but the key thing is that it rose above 4.20," said Christian Lawrence, senior market strategist, LatAm FX at Rabobank in New York. Debate around the central bank's FX intervention policy has intensified since it sold dollars in the spot market in August for the first time in over a decade, indicating a willingness to chip away at its mountain of reserves. Brazil's stock index was down 0.4% in subdued trading, weighed down by financial stocks, while Mexico shares were up marginally after a market holiday on Monday. Chile's currency and stocks resumed their slide after a brief reprieve on Friday, when lawmakers agreed to hold a referendum to replace a dictatorship-era constitution. "People are just being cautious because we haven't seen this kind of social unrest in Chile and it is worrisome (since) we don't know where things are going to go from here," said Christian Lawrence. An index of Latin American currencies was down 0.3% with the Mexican peso and Peruvian sol slipping against a steady dollar, as conflicting comments surrounding the trade talks kept investors on the sidelines. Key Latin American stock indexes and currencies at 1912 GMT: Stock indexes daily % change Latest MSCI Emerging Markets 1056.64 0.43 MSCI LatAm 2659.45 -0.74 Brazil Bovespa 105799.95 -0.44 Mexico IPC 43432.69 0.09 Chile IPSA 4792.27 -0.45 Argentina MerVal 31856.19 0.014 Colombia IGBC - - Currencies daily % change Latest Brazil real 4.2004 0.52 Mexico peso 19.3530 -0.21 Chile peso 787 -1.83 Colombia peso 3437.1 0.06 Peru sol 3.376 -0.12 Argentina peso 59.6900 -0.02 (interbank) (Reporting by Medha Singh and Shreyashi Sanyal in Bengaluru; Editing by Tom Brown)