Initial Iowa Caucus results show Biden in fourth place with 62% of precincts reporting – CNN

With 62% of precincts reporting, former Vice President Joe Biden is in fourth place, with just 15.6% of the vote, says the CNN during early Wednesday morning in Asia. The live update also mentions that Pete Buttigieg, the former mayor of South Bend, Indiana, is initially leading in Iowa.

Key quotes

"CNN's John King noted that Iowa "was never Joe Biden country," and the former vice president has been anticipating doing better in states like South Carolina."

FX implications

With the early results favoring the ruling Republicans, the US dollar can take positive clues from the news. However, the final results are yet to be released and the greenback is repeating the habit of being mostly unchanged during the early Asian session.