I'm wondering how many people spotted the missing ^ there.
It's interesting to consider such an old convention still in use; in light of the fact that #Unicode not only has for the whole of this century so far given us proper arrow symbols, and even a Control-key symbol (⎈ U+2388), but also has a character (␗ U+2417) with a control code picture for ETB.
I still often use ^ too. (-: