BUG #14760: Installation Failed/Interrupted

The following bug has been logged on the website:

Bug reference: 14760
Logged by: Nikhil Varangaonkar
Email address: nikhil(dot)varangaonkar(at)bhge(dot)com
PostgreSQL version: 9.6.2
Operating system: Windows 10
Description:

Installation fails with below log
---------------------------------------
selecting dynamic shared memory implementation ... windows
creating configuration files ... ok
creating template1 database in C:/Program Files/PostgreSQL/9.6/data/base/1
... ok
initializing pg_authid ... ok
setting password ... FATAL: invalid byte sequence for encoding "UTF8": 0xe0
0x74 0x27
child process exited with exit code 1
initdb: removing contents of data directory "C:/Program
Files/PostgreSQL/9.6/data"

Called Die(Failed to initialise the database cluster with initdb)...
Failed to initialise the database cluster with initdb
---------------------------------------

It seems the superuser pwd cannot accept non-English characters. Please
confirm.

Thanks