LONDON (AFX) - The euro firmed slightly at midday ahead of the release soon of what are expected to be weak second quarter GDP figures from the US, dealers said. Dealers said however that the single European currency lost some of its momentum with the release of strong euro zone M3 money supply growth figures yesterday and data this morning showing a sharp fall in French business confidence figures. "The market's a bit dull really as people are waiting for the US numbers this afternoon," Bank of America chief economist Jeremy Hawkins said. "It does seem perhaps that the euro's rally has come to an end. It hasn't been able to sustain its recent strength," he said. Dealers said market participants have started shrugging the conflicting rhetoric from the US government on the strong dollar policy. That could mean the euro will no longer benefit from doubts about the US stance, they said. "There's going to remain some niggling sense that perhaps something is going on but I think that over time that will start to evaporate," Hawkins said. In the UK, sterling fell following the release of preliminary second quarter GDP figures showing growth of just 0.3 pct year-on-year. Dealers said a Financial Times report that the government is preparing to hold a euro entry referendum as early as next year has created confusion which is weighing on sterling.