• AUD/USD hits 0.6585 after extending north from 0.6554 (Asian session low)

• 0.6585 is fractionally fresh eight-month peak (0.6583 was Asia high)

• Concerns about Fed independence continue to weigh on the USD

• Trump hammers Powell again (Powell's term is due to end in May 2026)

• Offers may emerge around 0.6600 (option expiry) if AUD/USD extends north

• RBA interest rate decision next week (July 8); 25 bps cut expected

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