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Pakistan’s defense minister said the US and Iran are “close to some sort of arrangement” over the Strait of Hormuz, even after both sides appeared to toughen their positions in the long-deadlocked negotiations. “Things are shaping up in favor of peace,” Khawaja Asif told reporters in Islamabad on Tuesday, without giving details of any breakthrough. Pakistan’s Interior Minister Mohsin Naqvi will shortly arrive in Tehran to hold talks with his Iranian counterpart, the Islamic Republic’s semi-official Fars agency reported.

On today's episode, Tim Stenovec and Kristine Aquino speak with:

• Noam Rayden, William Sudhaus Senior Fellow at The Washington Institute
• Aaron Mulvihill, Global Alternatives Strategist at J.P. Morgan Asset Management
• Yoni Assia, CEO of eToro
• Denitsa Tsekova, Bloomberg News Cross-Asset Reporter