from my understanding (i may be wrong) it controlls the fuel pressure going through your injectors, insuring that you will not run lean and cause engine knocking. It also (provided you fuel pump is decent) allows for more pressure through your injectors, the more juice you can supply means you need more air hence can run higher boost.
All in all it gives you a more constant fuel pressure which allows for some extra power and a nicer running car.
But like I said i could be wrong.
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