* Offshore funds sell won, ringgit     * Rupiah down on importers' dollar demand   (Adds text, updates prices)     By Jongwoo Cheon     SINGAPORE, Aug 20 (Reuters) - The South Korean won led losses among emerging Asian currencies on Wednesday as the dollar hit an 11-month high on strong U.S. housing data.     Offshore funds sold the won  
  KRW=KFTC
   and the Malaysian ringgit  
  MYR=MY
  . The Indonesian rupiah  
  IDR=ID
   slid on month-end corporate dollar demand and on worries over the nation's current account and budget deficits.     China's yuan  
  CNY=CFXS
   broke a five-session rising streak after the central bank set the official guidance rate slightly weaker.  
  CNY/
       The dollar  
  .DXY
   rose to a near one-year high against a basket of six-major currencies after data showed U.S. housing and building permits rebounded strongly in July. That indicated the housing market was back on track after stalling in the second half of last year.  
  ID:nLNSJJEAJR
       "Solid U.S. data usually boost sentiment for long dollar bets against all other currencies in these days," said Jeong My-young, Samsung Futures' research head in Seoul.     "Pressure on Asian currencies, however, is likely smaller than others as funds are moving from Europe to Asia," Jeong said.     In terms of potential catalysts, investors are focusing on the U.S. Federal Reserve's minutes from the July 29-30 policy meeting, as well as Fed Chair Janet Yellen's speech on Friday at a gathering of central bankers in Jackson Hole, Wyoming.          WON     The won slid, tracking its weakness in non-deliverable forwards  
  KRWNDFOR=
   markets as offshore funds covered short positions in the dollar.     Investors were also wary of possible intervention by the foreign exchange authorities to curb the won's appreciation.     The South Korean currency pared some of its earlier losses as traders said it was facing chart support at 1,021.8, a 55-day moving average.              RUPIAH     The rupiah fell on dollar demand from local importers for month-end payments.     Investors remained concerned over Indonesia's twin deficits with the current account gap widening more than expected in the second quarter and the outgoing government's draft 2014 budget failing to mention a fuel subsidy cut.     "The main focus and driver for Indonesian assets is the fuel subsidy," said Sean Yokota, head of Asia strategy for Scandinavian bank SEB in a client note.     "We prefer to be sidelined on USD/IDR and underweight bonds until Jokowi introduces the fuel subsidy cuts, which we expect late this year or early 2015 after Jokowi takes office in late October," Yokota said, referring to President-elect Joko Widodo.          RINGGIT     The ringgit eased as offshore funds took profits from its recent strength, while bond prices were also largely lower.     "Despite some day-to-day fluctuations, the dollar will rise eventually," said a senior Malaysian bank trader in Kuala Lumpur.          CURRENCIES VS U.S. DOLLAR     Change on the day at 0430 GMT   Currency    Latest bid   Previous day    Pct Move   Japan yen       103.10         102.91       -0.18   Sing dlr        1.2476         1.2474       -0.02   Taiwan dlr      29.985         30.042       +0.19   Korean won     1021.50        1017.30       -0.41   Baht             31.92          31.86       -0.17   Peso             43.82          43.65       -0.40   Rupiah        11710.00       11678.00       -0.27   Rupee            60.82          60.68       -0.23   Ringgit         3.1650         3.1570       -0.25   Yuan            6.1461         6.1418       -0.07     Change so far in 2014   Currency    Latest bid  End prev year    Pct Move   Japan yen       103.10         105.28       +2.11   Sing dlr        1.2476         1.2632       +1.25   Taiwan dlr      29.985         29.950       -0.12   Korean won     1021.50        1055.40       +3.32   Baht             31.92          32.86       +2.96   Peso             43.82          44.40       +1.31   Rupiah        11710.00       12160.00       +3.84   Rupee            60.82          61.80       +1.62   Ringgit         3.1650         3.2755       +3.49   Yuan            6.1461         6.0539       -1.50    (Editing by Shri Navaratnam)  ((jongwoo.cheon@thomsonreuters.com)(+65 6870-3841)(Reuters Messaging: jongwoo.cheon.thomsonreuters.com@reuters.net))   ((For the new Reuters scrolling global forex service please click  
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       Malaysian ringgit   
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    Indonesian rupiah   
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