>perl -MDevel::Peek -e"Dump(qq{\x{05D0}\x{20AC}});"
SV = PV(0x237354) at 0x235fc8
  REFCNT = 1
  FLAGS = (PADBUSY,PADTMP,POK,READONLY,pPOK,UTF8)
  PV = 0x18307bc "\327\220\342\202\254"\0 [UTF8 "\x{5d0}\x{20ac}"]
  CUR = 5
  LEN = 8

>perl -MDevel::Peek -e"Dump(qq{\x05\xD0\x20\xAC});"
SV = PV(0x237354) at 0x235fc8
  REFCNT = 1
  FLAGS = (PADBUSY,PADTMP,POK,READONLY,pPOK)
  PV = 0x18307bc "\5\320 \254"\0
  CUR = 4
  LEN = 8