Sniff sulphur with some currency (5)
I believe the answer is:
scent
'sniff' is the definition.
(thesaurus)
'sulphur with some currency' is the wordplay.
'sulphur' becomes 'S' (synonyms).
'with' says to put letters next to each other.
'some currency' becomes 'cent' (cent is a kind of currency).
's'+'cent'='SCENT'
(Other definitions for scent that I've seen before include "Fragrance" , "Animal smell" , "Trail" , "Bouquet" , "Distinctive odour" .)