0830 GMT - Sterling is at risk of falling if the Bank of England remains cautious about raising interest rates, ING's Francesco Pesole says in a note. The BOE is likely to leave rates on hold Thursday and stress there is no evidence price pressures are extending beyond energy prices, he says. BOE Governor Andrew Bailey could also push back against aggressive rate rise expectations. U.K fiscal worries ahead of the October budget and growing pressure on the U.K. government to allow independence referendums in Scotland, Wales and Northern Ireland could also weigh on sterling, he says. The euro rises 0.1% to 0.8560 pounds and ING targets an increase to 0.8700 pounds in the coming weeks.