*

Argentine peso falls to all-time low in informal market

*

Brazilian consumer prices rise more than expected in May

*

Copper, iron ore prices weaken to multi-month lows

*

Colombia's CPI data due later on Tuesday

(Updated at 3:34 p.m. ET/ 1934 GMT)

By Ankika Biswas and Shashwat Chauhan

June 11 (Reuters) - Most Latin American currencies fell

against the dollar on Tuesday, hurt by weak commodity prices,

with Mexico's peso selling off after the country's president

said that his proposed judiciary reform could be approved soon.

The Mexican peso weakened 1.3% after Mexican

President Andres Manuel Lopez Obrador said that his planned

judiciary reform could be approved in September, further

spooking markets.

Overnight, President-elect Claudia Sheinbaum said she would

encourage broad discussions over proposed constitutional

reforms, including a judicial overhaul before the next

congressional session kicks off.

Analysts also have attributed the currency's weakness to the

strong gains it enjoyed in 2023 and early this year. The peso

rose nearly 13% last year, ranking as one of the top performers

among Latin American currencies.

Meanwhile, traders noted that the Argentine peso

weakened 1.54% to a historic low of 1,300 per dollar in the

parallel black market.

Brazil's real was largely muted, as iron ore futures

tumbled to two-month lows and data showed the country's consumer

prices accelerated more than expected in May ahead of an

interest rate decision next week. Iron ore is one of the South

American nation's key exports.

Simon Harvey, head of FX analysis at Monex Europe, said the

data "confirmed our suspicions that disinflationary progress is

set to slow, leaving the BCB at risk of pausing its easing cycle

earlier than anticipated."

"This upward reading validates the decision by the Brazilian

Central Bank back in May, where policymakers decided to slow

down the pace of monetary easing with a cut of 25 basis points,

reneging on its previous forward guidance of a 50 bps cut."

The Chilean peso dropped 0.3% as copper prices in

London hit their lowest levels in seven weeks, while fellow

copper producer Peru's sol edged 0.1% higher in choppy

trading.

Chile's central bank also is expected to lower its key

interest rate by 25 basis points to 5.75% next week, a poll of

analysts released by the bank showed. That move would follow a

50-basis-point cut in May.

The Colombian peso also shed 1.2%, with investors

awaiting the country's consumer prices inflation data later on

Tuesday.

The currencies also weakened ahead of the U.S. Federal

Reserve's policy decision on Wednesday, with a series of

inflation reports also expected to further shape investors'

views of possible interest rate cuts later this year.

Key Latin American stock indexes and currencies:

Latest Daily % change

MSCI Emerging Markets 1065.87 -0.42

MSCI LatAm 2213.73 0.27

Brazil Bovespa 121695.84 0.78

Mexico IPC 53332.55 0.4

Chile IPSA 6556.04 -0.99

Argentina MerVal 1539983.50 -2.324

Colombia COLCAP 1391.28 -1.47

Currencies Latest Daily % change

Brazil real 5.3595 -0.07

Mexico peso 18.4428 -1.26

Chile peso 922.5 -0.25

Colombia peso 3983.5 -1.20

Peru sol 3.7601 0.22

Argentina peso 901.5000 0.06

(interbank)

Argentina peso 1275 0.39

(parallel)