Goldman Sachs Group Inc. improved its outlook for the lira for a second month but said the Turkish central bank’s plan to rebuild reserves will probably even out the currency’s gains. After a shift in approach outlined by central bank Governor Naci Agbal, “markets are likely to give policy makers, but especially the lira, benefit of the doubt, given its roughly 15% nominal annualized carry, and the broader dollar bearish environment,” Goldman analysts led by Zach Pandl said in a report to clients. The U.S. bank now forecasts the lira’s exchange rate against the dollar at 7.50, 7.75 and 8.00 in three, six and 12 ... (full story)