• AUD/USD hugs 0.6459 (200-day moving average) as it consolidates gains

• 0.6493 was Monday's five-month high, as Taiwan's dollar surged vs USD

• There is a big 0.6500 option expiry for the NY cut; A$1.1 billion strike

• Australia's re-elected PM said he had 'warm talks' with Trump on tariffs

• Two-day Fed meeting gets underway later; rate hold expected on Wednesday

• Next RBA rate decision in a fortnight (May 20); 25 bps cut expected

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(Robert Howard is a Reuters market analyst. The views expressed are his owb)