The dollar huddled near multi-month lows on Wednesday as investors wagered any further tightening in the United States would be slow at best, while optimism on China's economy underpinned Asian shares and commodities.

The U.S. currency was still smarting after the collapse of the Republicans' push to overhaul healthcare dealt a blow to President Donald Trump's ability to pass promised tax cuts and infrastructure spending.

In Asia, investor sentiment has also been supported by a raft of upbeat economic news out of China. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up 0.55 percent at its highest since April 2015.

In Europe, futures for the Eurostoxx 50 STXEc1 were up 0.3 percent, the DAX FDXc1 0.2 percent and FTSE FCEc1 0.3 percent. E-Mini futures ESc1 edged up 0.1 percent.

Oil prices eased after a rise in U.S. crude inventories and ongoing high supplies from producer club OPEC revived concerns of a supply overhang. 

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