66950
My next thing would be to try and find out when and how these businesses are producing there transactions and by which approaches (Spot,Forward) as well as the timescale that they must create them.
Many bank-to-corp transactions are done with forwards. The banks then hedge the risk of that through an offsetting position in place. This is the reason why discussions about notional quantity are horribly.

To give you an example of the procedure... Mitsubishi needs to lock in an exchange rate for a 1m payroll 30 times out. They contract with Bank A to get a 1m 30 day. Bank A does not want to hold the risk, so that they hedge the forward with a place transaction with Bank B. Bank B is a market maker and they do not want to hold it . Subsequently it's offered around ECN Broker C in which Speculator D presumes the risk. The 1m in interest would became $3m in quantity.

So yeah a majority of forex transactions are a part of international business, but that's only because a majority of notional transaction volume is artificial.

To deal with your larger question/assertion: although its true that business transactions are a large portion of the quantity, that does not necessarily signify they're a large driver of price shift. At the end of the day there was just $1m in transaction requirement, so just $1m in liquidity will be swallowed. Without a reference point for how large this transaction is in comparison to the remainder of the market, it is not possible to estimate how large the effect would be, but I believe in most situations the price impact of business orders would be tiny.

You can confirm this for yourself by scanning IFR for large commercial need and watching the price effect as that need is filled.