Search Char
The Search_Char config specification
Given the 4.20 Pos and Srch enhancements utilizing the "^" character, to search for '^' with "let X=POS(string$,'^',5)" you will need to either turn the search character off with CONFIG SEARCH_CHAR OFF or change the search character to something else as in CONFIG SEARCH_CHAR 7E (where 7E is the hexadecimal representation of an alternate search character).