Piece about wife that's foxy (6)

I believe the answer is:

shrewd

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'that's foxy' is the definition.
(thesaurus)

'piece about wife' is the wordplay.
'piece' becomes 'shred' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'about' indicates putting letters inside.
'wife' becomes 'w'.
'shred' placed around 'w' is 'SHREWD'.

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(Other definitions for shrewd that I've seen before include "Cunning" , "Penetrating" , "Canny and astute" , "worldly wise" , "keen" .)

I've seen this clue in The Guardian.

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