The pound snapped a three-day decline against the dollar as an industry report showed a gauge of U.K. house prices climbed to the highest level in almost three years last month. Sterling was about 0.3 percent from a two-week low against the dollar. The Royal Institution of Chartered Surveyors said its home-price index rose to 1 from minus 2 in March, the first reading above zero since June 2010. The Bank of England will present its latest inflation forecasts tomorrow after refraining from expanding stimulus measures at its monthly policy meeting last week. The Debt Management Office is scheduled to sell 4.75 billion pounds ($7.28 billion) of five-year gilts today. The pound was little changed at $1.5317 as of 7:29 a.m. London time, after weakening 1.5 percent in the past three days. It dropped to $1.5278 yesterday, the lowest since April 25. Sterling was at 84.90 pence per euro. The pound has strengthened 1.9 percent in the past month, the third-best performer after the Canadian and U.S. dollars of 10 developed-market currencies tracked by Bloomberg Correlation-Weighted Indexes. The U.S. currency rose 2 percent and the euro gained 1.1 percent. The U.K. last sold five-year gilts on March 5 at an average yield of 1.041 percent. That’s down from 1.277 percent in February and compares with a record-low 0.787 percent set in November. Gilts lost 1.6 percent this month through yesterday, according to indexes compiled by Bloomberg and the European Federation of Financial Analysts Societies. German bonds fell 0.9 percent and Treasuries dropped 1 percent. To contact the reporter on this story: Neal Armstrong in London at narmstrong8@bloomberg.net To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net

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