1
: buoyed on or in a fluid
2
: located out of the normal position
a floating kidney
3
a
: continually drifting or changing position
the floating population
b
: not presently committed or invested
floating capital
c
: short-term and usually not funded
floating debt
d
: having no fixed value or rate
floating currencies
floating interest rates
4
: connected or constructed so as to operate and adjust smoothly
a floating axle
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Merriam-Webster unabridged
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