Report of Independent Registered Public Accounting Firm

The Board of Trustees of
Dreyfus High Yield Strategies Fund:

We have examined management's assertion, included in the accompanying
Management Statement Regarding Compliance With Certain Provisions of the
Investment Company Act of 1940, that Dreyfus High Yield Strategies Fund,
(the "Fund"), complied with the requirements of subsections (b) and (c)
of Rule 17f-2 under the Investment Company Act of 1940 as of
May 31, 2008.  Management is responsible for the Fund's compliance with
those requirements.  Our responsibility is to express an opinion on
management's assertion about the Fund's compliance based on our
examination.

Our examination was conducted in accordance with the standards of the
Public Company Accounting Oversight Board (United States) and,
accordingly, included examining, on a test basis, evidence about the
Fund's compliance with those requirements and performing such other
procedures as we considered necessary in the circumstances.  Included
among our procedures were the following tests performed as of May 31,
2008 and with respect to agreement of security purchases and sales, for
the period from March 31, 2008 (the date of our last examination) through
May 31, 2008:
1. 	Examination of Mellon Bank N.A.'s (the "Custodian") security
position reconciliations for all securities held by sub custodians and
in book entry form;
2.	Confirmation of all securities hypothecated, pledged or placed
in escrow with brokers;
3. 	Inspection of documentation of other securities held in
safekeeping by the Custodian but not included in 1) and 2) above;
4.	Reconciliation between the Fund's accounting records and the
Custodian's records as of May 31, 2008 and verified reconciling items;
5.	Confirmation of pending purchases for the Fund as of May 31,
2008 with brokers, and where responses were not received, an inspection
of documentation corresponding to subsequent cash payments;
6.	Agreement of pending sales activity for the Fund as of May 31,
2008 to documentation of corresponding subsequent cash receipts;
7.	Agreement of Fund's trade tickets for two purchases and two
sales or maturities for the period March 31, 2008 (the date of our
last examination) through May 31, 2008, to the books and records of the
Fund noting that they had been accurately recorded and subsequently
settled;
8.	We reviewed Mellon Global Securities Services Report on
Controls Placed in Operation and Tests of Operating Effectiveness
("SAS 70 Report") for the period January 1, 2007 through December 31,
2007 and noted no negative findings were reported in the areas of Asset
Custody and Control; and
9.	We inquired of the Custodian who concurred that all control
policies and procedures detailed in Section IV Control Objectives,
Controls, and Tests of Operating Effectiveness of the SAS 70 Report,
have remained in operation and functioned adequately from January 1,
2008 through May 31, 2008. In addition, we obtained written
representation from the Custodian confirming the above.

We believe that our examination provides a reasonable basis for our
opinion.  Our examination does not provide a legal determination on the
Fund's compliance with specified requirements.
In our opinion, managements assertion that the Fund complied with the
requirements of subsections (b) and (c) of Rule 17f-2 of the Investment
Company Act of 1940 as of May 31, 2008, with respect to securities
reflected in the investment accounts of the Fund is fairly stated, in
all material respects.
This report is intended solely for the information and use of management
and the Board of Trustees of the Fund and the Securities and Exchange
Commission and is not intended to be and should not be used by anyone
other than these specified parties.

KPMG LLP
New York, New York
August 29, 2008





August 29, 2008


Management Statement Regarding Compliance With
Certain Provisions of the Investment Company Act of 1940

Management of Dreyfus High Yield Strategies Fund (the "Fund"), is
responsible for complying with the requirements of subsections (b) and
(c) of Rule 17f-2, "Custody of Investments by Registered Management
Investment Companies," of the Investment Company Act of 1940.  Management
is also responsible for establishing and maintaining effective internal
controls over compliance with those requirements.  Management has
performed an evaluation of the Fund's compliance with the requirements of
subsections (b) and (c) of Rule 17f-2 as of May 31, 2008 and from March
31, 2008 through May 31, 2008.
Based on the evaluation, Management asserts that the Fund was in
compliance with the requirements of subsections (b) and (c) of Rule
17f-2 of the Investment Company Act of 1940 as of May 31, 2008 and from
March 31, 2008 through May 31, 2008 with respect to securities reflected
in the investment account of the Fund.

Dreyfus High Yield Strategies Fund


Jim Windels
Treasurer