A country whose central bank never intervenes in currency markets operates which regime?

1. Classify by whether the market or the state sets the rate. 2. A government intervening establishes a peg for its currency. 3. A central bank can implement soft peg and hard peg policies. 4. A policy allowing the foreign exchange market to set exchange rates is a floating exchange rate. 5. No intervention therefore means a floating exchange rate. _Source: OpenStax Principles of Macroeconomics for AP Courses 2e (CC BY 4.0), Ch 15 'Exchange Rates and International Capital Flows'_