Which of the following statements is TRUE? Group of answer choices With floating exchange rates, the foreign exchange ma

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Which of the following statements is TRUE?
Group of answer choices
With floating exchange rates, the foreign exchange market
determines the exchange rate, whereas with a merging currencies
approach, a nation adopts another country’s currency.
With hard exchange rate pegs, the market determines the exchange
rate with some intervention from the central bank, whereas with
soft exchange rate pegs, the central bank sets a fixed
currency.
The main difference between floating exchange rates and soft
exchange rate pegs is that the market completely determines soft
exchange rate pegs, while floating exchange rates are influenced by
central bank interventions on occasion.
Floating exchange rates are relatively stable, whereas merging
currencies can change a great deal in a short time.