What cuts skin — hip, feet — evenly (5)

I believe the answer is:

knife

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'what cuts' is the definition.
I can't tell whether this defines the answer.

'skin hip feet evenly' is the wordplay.
'evenly' indicates alternate letters (even-numbered letters only).
'skin'+'hip'+'feet'='skinhipfeet'
The alternating letters of 'skinhipfeet' are 'KNIFE'.

Can you help me to learn more?

(Other definitions for knife that I've seen before include "Edge tool" , "Table implement" , "Attack" , "Silent killer" , "Sharp tool" .)

I've seen this clue in The Times.

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