Australia, NZ dollars hit one-week low on U.S. rate hike risk

SYDNEY, May 13 (Reuters) – The Australian and New Zealand dollars sank to one-week lows on Thursday against their U.S. counterpart, which was buoyed by expectations of earlier-than-expected policy tightening by the Federal Reserve in response to rapid inflation.

U.S. consumer prices increased by the most in nearly 12 years in April as booming demand amid a reopening economy pushed against supply constraints, data showed on Wednesday.

Traders now await U.S. weekly jobless claims data due later in the day and retail sales numbers on Friday to determine whether consumer prices will continue to…