Character Encoding Option of UTF-8 Prevents CSV File to Load on CSV Import

CSV import errors are encountered if leads, estimates and opportunity CSV files with a character encoding option to UTF-8 are saved with. The error is resolved if the special character for example 'ä', has been removed from the CSV file. 

This is caused by an incorrect file encoding when the file is saved for import as shown on the comparison below. 

Scenario#1
1. Open the CSV file in Notepad 
2. Save as 
3. Set encoding to UTF-8 
4. Save 
5. Use this file in import page, Setup > Import/Export > Import CSV Record 

Result: No Error. 

Scenario#2
1. Open the CSV file in Notepad 
2. Save as 
3. Set encoding to ANSI 
4. Save 
5. Use this file in import page, Setup > Import/Export > Import CSV Record 

Result: ERROR > The following file(s) could not be uploaded because of one or more errors. Please correct and re-upload. 
Character error on Line# 2 Column# 7 (Byte # 34). 7785,tr >>>�<<<