The incident happened in the Talbot Street area at around 6pm on Saturday.
Police are quizzing the 37-year-old suspect on suspicion of grievous bodily harm and possession of an offensive weapon with intent.
The victim was taken to hospital where he was treated for his wounds, which are not believed to be life-threatening.
The woman was later rearrested on suspicion of attempted murder.
She has since been released on bail while police continue with their investigation.
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