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RBA Glossary definition for floating exchange rate

floating exchange rate – Exchange rates determined by market forces based on the demand for and supply of a currency.

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Exchange Rate Regimes and the Volatility of Financial Prices: The Australian Case

1 Jul 1986 RDP 8608
Robert G. Trevor and Stephen G. Donald
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1986/8608.html

Introduction

1 Jul 1986 RDP 8608
Robert G. Trevor and Stephen G. Donald
rates. At the time, the weight of the academic literature supported floating exchange rate regimes. ... Equivalently, interest rates should be relatively easier (and exchange rates relatively harder) to predict (in the statistical sense) undera floating
https://www.rba.gov.au/publications/rdp/1986/8608/introduction.html

Empirical Results

1 Jul 1986 RDP 8608
Robert G. Trevor and Stephen G. Donald
They also support the notion that floating exchange rates allow an independent monetary policy. ... While this is strongly supportive of the theoretical prior that exchange rates are more volatile under a floating exchange rate regime, there is still a
https://www.rba.gov.au/publications/rdp/1986/8608/empirical-results.html

Conclusions

1 Jul 1986 RDP 8608
Robert G. Trevor and Stephen G. Donald
The volatility in interest rates due to external impulses was expected to have been reduced, and that in exchange rates increased, in the move to a floating exchange rate regime. ... The extent to which our conclusion that exchange rates are relatively
https://www.rba.gov.au/publications/rdp/1986/8608/conclusions.html