No, that is a cursor, and on mine, it's a thin black line at right angles to the length of the rule.
The ^ (Shft-6 in the UK) on a computer keyboard is the "caret" and is used by some programs as a cursor. Or by mathematicians to denote "To the power of"
I've always thought of the "|" vertical line symbol as the pipe symbol, which may tell you where I learnt such batch programming as I've done.