Well, the page is in UTF-8, the preview does display it OK but that doesn't go through database, once you save it gets messed up so I'm assuming the character encoding in database is set up to something wrong. I did a test install of SMF and it's all in latin1_swedish_ci which is mysql default so the installer doesn't specify anything.
It could be probably fixed by just changing the encoding of the post table (or all tables, to avoid conflicts) to some unicode, like utf8_general_ci. UTF8 is a superset of latin1 so it shouldn't break anything, but you never know ...