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* U.S. existing home sales unexpectedly fall in March * Chile peso hits year low as top export copper slides * Mexico peso falls 0.1 pct, Brazil real down 0.4 pct RIO DE JANEIRO, April 22 (Reuters) - Latin American currencies edged lower on Monday after an unexpected drop in U.S. existing-home sales added to global economic concerns, driving investors to the perceived safety of the dollar. The Mexican peso, whose performance is closely tied to the outlook for the U.S. economy, dropped 0.1 percent to 12.2629 per dollar - a decline of nearly 2 percent from a 20-month high it hit only 11 days ago. Most currencies in the region had opened higher but erased gains after a report showed U.S. home resales slipped 0.6 percent last month, yet another sign that U.S. economic activity may be cooling. Also weighing on the peso was a report showing Mexican retail sales slipped in February from the previous month, having their biggest year-on-year drop in 3-1/2 years. In Brazil, the real weakened 0.4 percent to 2.0195 per dollar. While investors were on alert for a possible central bank intervention to stem further currency losses, analysts believed that would not happen at current levels. "The exchange rate would have to be near 2.04 per dollar for it to trigger an intervention," said Jose Carlos Amado, a currency trader with Renascenca brokerage in Sao Paulo. Chile"s peso closed at its weakest level so far this year as prices of copper, the country"s main export product, fell almost 1 percent and neared a 1-1/2-year low. The Chilean currency ended 0.15 percent lower, at 477.50 per dollar. "The copper slide continued to weigh on the peso," said a trader in Santiago. "There is, however, a strong resistance around 478 pesos per dollar. Every time the peso hovers around those levels, there"s an increased dollar offer." Latin American FX prices at 1840 GMT: Currencies daily % YTD % change change Latest Brazil real 2.0195 -0.40 1.02 Mexico peso 12.2629 -0.11 4.90 Chile peso 477.5000 -0.15 0.25 Colombia peso 1838.9600 -0.09 -3.97 Peru sol 2.6030 -0.42 -2.00 Argentina peso 5.1650 0.00 -4.89 Argentina peso 8.6200 0.12 -21.35 - Tweet this
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EMERGING MARKETS-Latam currencies slip on poor U.S. housing data
