Yes, it can.
Not every font will necessarily have the required glyphs, though.
The only font that I am immediately aware of that has full glyph coverage is 16-Unifont.fnt, which is included in the font pack linked on the left hand side of this very page in the Extras section, or installable via Rockbox Utility.
On the awfully small screen of your device however, a 16pt font is going to drastically limit the amount of lines displayed at any one point in time in the lists and menus, and may possibly cause the while playing screen to render incorrectly.
And it can also be theme dependant, some themes (not the default, cabbiev2), will hardcode the fonts used instead of allowing a user selectable font, so the decision is effectively taken out of your hands and the glyph coverage is entirely dependant on the foresight, or lack thereof, of the theme's author.
[Saint]