* Optimism over copper helps Chilean, Peruvian FX * Virus resurgence in Brazil causes concern (Adds comments, updates prices throughout) By Ambar Warrick and Shreyashi Sanyal April 7 (Reuters) - Most Latin American currencies edged lower on Wednesday as a second wave of COVID-19 infections in Brazil and other countries in the region weighed on sentiment. The U.S. dollar hovered around two-week lows, with the weakness helping spur some gains in emerging markets. Brazil"s real fell against the dollar, while Chile"s peso and the Peruvian sol rose on optimism over copper prices. Virus-related daily deaths in Brazil climbed above 4,000 on Tuesday, stoking fears that Latin America"s largest economy was on track to surpass the grim numbers reported by the United States in January. Still, Brazilian officials expect the economy to be back on track in two to three months on the heels of an accelerating vaccination program. Brazil"s initial difficulties with procuring vaccinations, as well as concerns over its mounting fiscal debt, have seen the real widely underperform most of its emerging market peers this year. Chile"s peso was supported by data showing a large trade surplus in March, with copper exports rising substantially. Copper price gains have helped the peso somewhat offset local economic ructions, as the country shut its borders recently due to a rise in COVID-19 cases. "While concerns remain that shipments could be delayed, the risk to metals supply likely remains mitigated. In turn, reflationary tailwinds remain the primary driver supporting LME metals, particularly following the strong U.S. jobs report," analysts at TD Securities wrote in a note, referring to the report released by the U.S. Labor Department on Friday. Data showing a recovery in China"s service sector has also improved the outlook for copper, given that the country is the world"s top importer of the red metal. Colombia"s peso rose slightly on gains in oil prices. Mexico"s peso and Argentina"s peso were both flat. Both countries on Wednesday called for debt relief for middle income countries, saying such a move could prevent a debt crisis emerging on the back of the pandemic. Emerging markets are expected to have a mixed recovery from the pandemic, with economies in Asia expected to outpace their peers. Latam stocks were muted in afternoon trade. Key Latin American stock indexes and currencies: Stock indexes Latest Daily % change MSCI Emerging Markets 1338.08 -0.66 MSCI LatAm 2349.35 0.33 Brazil Bovespa 118145.13 0.55 Mexico IPC 47975.91 -0.02 Chile IPSA 4849.22 -0.24 Argentina MerVal 50355.95 0.055 Colombia COLCAP 1332.24 0.6 Currencies Latest Daily % change Brazil real 5.6152 -0.27 Mexico peso 20.2085 -0.21 Chile peso 713.7 0.53 Colombia peso 3652.79 -0.48 Peru sol 3.608 0.69 Argentina peso 92.3300 -0.04 (interbank) Argentina peso 136 2.94 (parallel) (Reporting by Ambar Warrick and Shreyashi Sanyalin Bengaluru; Editing by Kirsten Donovan and Paul Simao)