EMERGING MARKETS-Latam FX dips on rate hike worries and China woes

* Brazil's Galipolo: recent market turbulence related to US long-term rates * Argentine peso flat after devaluation, central bank FX rate fix * New Paraguayan President Santiago Pena sworn in * JPMorgan ramps up EM default rate forecast By Bansari Mayur Kamdar Aug 15 (Reuters) – Latin American currencies slipped on Tuesday amid rising concerns about the health of China's economy, a key trading partner for the resources rich region, and about the U.S. Federal Reserve's rate path. Benchmark 10-year U.S. Treasury yields hit near 10-month highs after data showed retail sales rose more than economists had expected in July, stoking concerns the U.S. central bank could keep interest rates higher for longer.