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50% target range on Wednesday, withChair Jerome Powell emphasizing that recent high inflation readings had not changed the underlying story of slowly easing price pressures in the United States . Markets are now wagering a 75% probability that the Fed will begin easing in June, up from 59% on Tuesday, according to the CME Group's FedWatch Tool. Looking ahead, the S&P Global US preliminary PMIs and Fedspeak will remain in focus for a fresh boost to Gold price.