*Scotland Dec. Shop Price Index Down 2.1% On Month

British pound Pares Recent Gains Against Majors

*UK Dec. BRC Nielsen Shop Price Index down 2.0% On Month Vs. 0.2% rise in November

*BRC: Sharp deceleration reflects unprecedented levels of discounting on the High Street, reduction in VAT

*Scotland Dec. Shop Price Inflation At 1.5% On Year vs. 3.8% In November