Floating bond doubt in embedded options

Why is the effective duration of a floating bond equal to its reference rate time period? For eg why does a 3-year floating bond that has a reference rate of one year have a effective duration close to 1?

Because every year its coupon resets to the current rate, so its value resets to par. This makes it similar to a 1-year bond whose value at the end of one year is par.

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This makes sense. Thank you!

My pleasure.