Pipe symbol not working

I am new to FreeBSD. I have FreeBSD 10.1 installed as a guest OS on a Linux host using virtual box.
After installing I noticed that the | symbol does not work in the terminal on FreeBSD and all attempts to produce it result in the broken pipe ¦. Why is this happening? Am I missing something obvious?
 
The broken pipe is the same character as the solid pipe symbol in ASCII and other 8-bit encodings but two different characters in Unicode . What you're seeing is that the font you're using has the pipe character (ASCII code 124) displayed as the broken pipe.
 
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