Unable to replace ^

Hi Team,

I have a file called aa.txt and here's the content

^aa^,^11^

We are unable to replace the "^" with '' using sed command.

sed 's/^//g' aa.txt

need the file as follows in AIX
aa,11

Please advise.

echo '^aa^,^11^' | sed 's#\^##g'
tr -d '^' < file