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EMERGING MARKETS-Mexico peso rebounds as Trump agrees to keep NAFTA for now

(New throughout, updates prices and market activity to close) By Bruno Federowski SAO PAULO, April 27 (Reuters) - The Mexican peso rebounded on Thursday after U.S. President Donald Trump agreed to keep the North American Free Trade Agreement alive for now and renegotiate its terms.

The previous day, the peso slumped after a senior Trump administration official said a draft executive order was under consideration that could withdraw the United States from NAFTA.

But Trump said on Thursday he received calls from the leaders of NAFTA partners Mexico and Canada asking him to renegotiate the deal rather than terminate it. Trump expressed optimism that the three countries could successfully renegotiate an accord he deems unfair to American interests.

The peso strengthened 0.8 percent a day after it fell nearly 2 percent. It hit a record low in January on concerns that Trump would pull out of NAFTA but rallied back as officials took a softer tone on trade.

Other Latin American currencies seesawed, with the Brazilian real slightly lower ahead of a national strike and demonstrations called by labor unions and leftist parties to protest conservative President Michel Temer's reform program.

On Wednesday, the lower house of Congress approved the main text of a bill to relax Brazil's labor laws, a main plank of Temer's efforts to increase investment and pull the economy out of its worst recession.

Brazil's benchmark Bovespa stock index fell 0.3 percent, weighed down by shares of Vale SA after the world's largest iron ore producer missed first-quarter profit estimates.

Latin American stock indexes and currencies at 2200 GMT: Stock indexes Latest Daily YTD pct pct change change MSCI Emerging Markets 979.66 -0.29 13.61 MSCI LatAm 2,595.58 -0.46 10.89 Brazil Bovespa 64,676.55 -0.29 7.39 Mexico IPC 49,440.96 -0.25 8.32 Chile IPSA 4,783.08 -1.42 15.22 Chile IGPA 24,038.81 -1.31 15.94 Argentina MerVal 20,889.45 -0.65 23.48 Colombia IGBC 10,109.05 -1.02 -0.19 Venezuela IBC 56,429.94 -7.94 77.98 Currencies daily % YTD % change change Latest Brazil real 3.1820 -0.29 2.11 Mexico peso 19.0025 0.82 9.16 Chile peso 663.7 0.2 1.05 Colombia peso 2,940.75 -0.37 2.07 Peru sol 3.245 0.15 5.21 Argentina peso (interbank) 15.4100 0.31 3.02 Argentina peso (parallel) 15.9 0.69 5.79 (Reporting by Bruno Federowski; Editing by David Gregorio)