In my personal opinion, Exact match is not SO important, but should be considered as well.
I think this way - let's take the same "speed reading". If there are 100 phrase-match searches, they can consist of 1 for "speed reading" and 99 for "speed reading guide". Both of them have phrase "speed reading", as you see.
Now, if your website is optimized for "speed reading guide", rather than just "speed reading", then it will get a lot higher traffic as it matches 99% of such searches more precisely, than just "speed reading".
The issue here is to find this exact phrase with the highest traffic within this phrase-match array
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Experts, please correct me if I am wrong somewhere!
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