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• Traders appear reluctant to make major moves ahead of Friday's crucial release of the US Personal Consumer Expenditures Price Index, the Federal Reserve's preferred measure of inflation. Economists polled by Reuters expect annual growth to slow to 2.6% in May, the slowest in three years. Until then, market participants are following the Federal Reserve's guidance, while policymakers are preaching patience, emphasizing that the Fed is in no rush to cut interest rates and curbing any excitement about a rate cut. Markets are forecasting about two rate cuts this year, with the September cut...