(New throughout, updates prices and market activity to close)
By Bruno Federowski
SAO PAULO, June 6 (Reuters) - Latin American stocks and currencies closed mixed on Monday after Federal Reserve Chair Janet Yellen said U.S. interest rate hikes were coming, but was vague about their timing.
Emerging market assets had jumped on Friday after tepid U.S. labor market figures cast doubt over the prospect of a U.S. interest rate increase in the short term.
A slower pace of monetary policy tightening could foster demand for assets from Latin American countries, which offer higher returns.
Chile's peso strengthened for a third consecutive day, tracking a rise in prices of copper, the country's main export. It closed at near a one-month high against the dollar.
Yellen's remarks caused U.S. Treasury yields to pare gains and limited a rally in oil prices, which hit a seven-month high during the session on supply worries.
Brent crude settled up 91 cents, or 1.83 percent, at $50.55 a barrel. U.S. crude settled up $1.07, or 2.2 percent, at $49.69 per barrel.
Brazil's stocks closed lower while the real currency gained nearly 1 percent against the dollar, which ended the session below 3.50 reals for the first time in more than three weeks. Concerns lingered about corruption scandals implicating senior members of interim President Michel Temer's administration.
In Mexico, the IPC stock index ended the day down 0.15 percent, while the peso lost 0.41 percent against the dollar. (Reporting by Bruno Federowski; Additional reporting by Paula Arend Laier; Editing by James Dalgleish and David Gregorio)