Brazil and Argentine markets remained closed for holidays. Analysts expected them to see steep declines when the reopen on Wednesday as they catch up with the virus-fuelled rout.

Mexico's peso rose 0.5%, coming off 11-week lows. The currency looked to break a three-session losing streak as the dollar index, which measures the greenback against six major rivals, was down 0.1%.

Chile's peso gave up early gains to trade flat. Prices of copper, the country's biggest export item, fell as investors fear dwindling demand as the virus spreads.

Copyright Reuters, 2020