ForexLive European FX news wrap: Eurozone inflation hits record, dollar slump extends

Headlines:Eurozone January preliminary CPI +5.1% vs +4.4% y/y expectedEUR/USD nudges to one-week high as dollar stays sluggishEquities bounce set to face a key test later in the dayOPEC+ JMMC meeting ends, recommends 400k bpd output increase for MarchUS MBA mortgage applications w.e. 28 January +12.