From Longman Dictionary of Contemporary Englishfree-floatingˈfree-ˌfloating adjective EFFECT/INFLUENCEnot connected to or influenced by anything a free-floating exchange rate a free-floating currency
Examples from the Corpus
free-floating• Mondale saw his role as more of a free-floating adviser to the President.• It begins to look as if the graptoloids could have been free-floating animals, of a kind without any living counterpart.• It is good to take this free-floating anxiety and anchor it by planning positive moves for the future.• The jet packs would enable a free-floating astronaut to return to the station.• She was accustomed to the knowledge that nobody prayed for her-but this free-floating repulsion was new.From Longman Business Dictionaryfree-floatingˈfree-ˌfloating adjectiveFINANCEECONOMICS not connected to or influenced by another thingan open economy with free-floating exchange rates 