Some examples of how it works:
^1.2.3 := >=1.2.3 <2.0.0
^0.2.3 := >=0.2.3 <0.3.0
^0.0.3 := >=0.0.3 <0.0.4 ^1.2.3 := >=1.2.3 <2.0.0
^0.2.3 := >=0.2.3 <0.3.0
^0.0.3 := >=0.0.3 <0.0.4