The pound snapped a four-day decline against the dollar before the Bank of England presents its quarterly report of economic analysis and inflation projections. The U.K. currency strengthened from a three-week low versus the euro. Bank of England Governor Mervyn King is scheduled to hold a news conference at 10:30 a.m. London time. A separate report will show unemployment claims fell 3,000 in April from March, when they dropped 7,000, according to the median forecast of 23 estimates in a Bloomberg News survey. The pound was little changed at $1.5211 as of 7:44 a.m. London time after declining to $1.5207 yesterday, the lowest since April 23. Sterling gained 0.2 percent to 84.80 pence per euro after depreciating to 85.17 pence yesterday, the weakest since April 25. The pound gained 1.7 percent in the past month, according to Bloomberg Correlation-Weighted Indexes, which track 10 developed-nation currencies. The dollar advanced 2.2 percent and the euro strengthened 1 percent. U.K. gilts lost 1.7 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 1.3 percent. To contact the reporter on this story: Emma Charlton in London at echarlton1@bloomberg.net To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net

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