Australian shares to open flat, but near record highs as inflation anxiety sinks in

After scaling record highs for two days in a row, Australian shares are expected to open flat after commodity prices fell sharply and inflation worries resurfaced.

ASX futures were steady at 7,266 points by 7:00am AEST.

The Australian dollar fell to 76.6 US cents (down 1.2 per cent) due to a much…