how to clear the Forefront Identity Manager trace log file

We have Sharepoint 2010 with FIM that came with that product.  We just realized that the 'verbose' tracing was turned on and the log file

C:\Program Files\Microsoft Office Servers\14.0\Service\fimDiagnostics.svclog got really big (60GB).  I edited the config file to only record "Error" events instead of Verbose as per this article:

http://msdn.microsoft.com/en-us/library/windows/desktop/ff357801%28v=vs.100%29.aspx#BKMK_enableDiagnosticTracing

Can I just delete this file or is there some way to keep the file but clear its contents?

thanks,