THE PRESIDENT'S DAILY BRIEF 3 JANUARY 1974

• Document Type: FOIA
• Collection: President's Daily Brief 1969-1977
• Document Number (FOIA) /ESDN (CREST): 0006007637
• Release Decision: RIPPUB
• Original Classification: T
• Document Page Count: 9
• Document Creation Date: August 14, 2016
• Document Release Date: August 24, 2016
• Publication Date: January 3, 1974

Declassified in Part - Sanitized Copy Approved for Release 2016/06/22 : CIA-RDP79T00936A011900-610027-6
The President's Daily Brief
January 3, 1974
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Exempt from general
declassification schedule of E.O. I 1652
exemption category 5B(
declassified only on approval of
the Director of Central Intelligence
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Declassified in Part - Sanitized Copy Approved for Release 2016/06/22 : CIA-RDP79T00936A011900010027-6
Declassified in Part - Sanitized Copy Approved for Release 2016/06/22 : CIA-RDP79T00936A011900010027-6
FOR THE PRESIDENT ONLY
THE PRESIDENT'S DAILY BRIEF
January 3, 1974
PRINCIPAL DEVELOPMENTS
There was extensive artillery fire along the Suez 25X1
Canal yesterday after two days of relative quiet.
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(Page 1)
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I Soviet
/India
(Page 2)
Communist troop infiltration to South Vietnam has
increased in recent weeks, but it is still barely
enough to replace Communist losses. Since late No-
vember, only 7,000 troops have been detected on the
move, all of them headed for the central highlands
and the COSVN area. (Page 3)
The strengthening of the dollar accelerated on the
first trading day of the new year. The greatest
dollar gain was recorded against the mark. The
price of gold jumped $3 an ounce yesterday, to $115.
(Page 4)
USSR)
\Chinese
/ (Page 5)
Laos.
(Page 5)
the Italians have again postponed
the trial of Arab terrorists arrested last year for
planning to down an Israeli airliner. (Page 5).
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ARAB STATES - ISRAEL
There was extensive artillery fire along the
Suez Canal yesterday after two days of relative
quiet. The firing was mostly in the central sector,
and took place throughout the day. It apparently
was on a more intensive scale than earlier sporadic
exchanges, and an Israeli military spokesman stated
that Israeli forces suffered eight wounded. It is
not clear who began the shooting, but Cairo has said
it intends to maintain pressure on the Israelis in
order to keep world attention on the battle front.
Egypt's Air Force remains on alert
Israeli air reconnaissance over the Syrian
front was heavy yesterday. Some artillery exchanges
occurred, and the Israelis suffered three killed and
two wounded.
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USSR-INDIA
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FOR THE PRESIDENT ONLY
VIETNAM
.Communist troop infiltration to South Vietnam
has increased in recent weeks, but it is still
barely sufficient to replace Communist losses.
Since late November only 7,000 troops have been de-
tected moving through the system, all of them headed
for the central highlands and the COSVN area. These
troops are the first sent tO these areas since last
spring. In the period between September and late
November, only 4,000 troops infiltrated to South
Vietnam. The total of 11,000 is the lowest September-
December figure in six years; on the average, about
40,000 men normally begin to move south at this
stage in the dry season.
Nevertheless, North Vietnamese logistic units
are moving large quantities of war materiel and food-
stuffs through the North Vietnam and Laos panhandles.
A message in early December from a major logistics
headquarters near Vinh indicated that approximately
4,000 tons of arms and ammunition would move through
that area during December. Later messages confirm
the heavy shipments.'
By early December, the supply activity had
reached southern Laos, and numerous convoys have
passed through the panhandle in recent weeks. One
message has noted the arrival of several thousand
tons of cargo, including 1,800 tons of ordnance.
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FOR THE PRESIDENT ONLY
Declassified in Part - Sanitized Copy Approved for Release 2016/06/22 : CIA-RDP79T00936A011900010027-6
Declassified in Part - Sanitized Copy Approved for Release 2016/06/22 : CIA-RDP79T00936A011900010027-6
FOR THE PRESIDENT ONLY
INTERNATIONAL MONETARY DEVELOPMENTS
The strengthening of the dollar accelerated on
the first trading day of the new year. European and
Japanese commercial and financial institutions sold
local currencies previously obtained to satisfy do-
mestic bookkeeping requirements, and pent-up demand
for dollars--reflecting foreign energy problems--
emerged.
The greatest dollar gain was recorded against
the mark. Apparently the Bundesbank still has not
intervened substantially to support the mark, despite
repeated reports that it would do so once the dollar
reached the old German central rate of 2.669. This
rate was surpassed on December 21.
In Tokyo the current yen-dollar rate was main-
tained only through continued and heavy central bank
intervention, amounting to over $240 million.
The price of gold jumped $3 an ounce yesterday,
to $115. Although it still is below the record $127
an ounce of July 6, 1973, the gold price has reached
record levels in terms of the mark, pound, and other
major European currencies. The concurrent strengthen-
ing of gold and the dollar in recent months has re-
versed the situation of early 1973, when gold rose
while the dollar weakened.
FOR THE PRESIDENT ONLY
Declassified in Part - Sanitized Copy Approved for Release 2016/06/22 : CIA-RDP79T00936A011900010027-6
Declassified in Part - Sanitized Copy Approved for Release 2016/06/22 : CIA-RDP79T00936A011900010027-6
FOR THE PRESIDENT ONLY
NOTES
USSR:
Italy: The trial of three of the five Arab
terrorists arrested in September for planning to
down an Israeli airliner in Rome with Soviet?made
missiles has again been postponed e this time until
February.
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Top Secret
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