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 the 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 March 31, 2007.

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 March 31, 2007 and with respect to
agreement of security purchases and sales, for the period from
October 31, 2006 (the date of our last examination), through March 31, 2007:

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 Custodian but not included in 1) and 2) above;
4. 	Reconciliation between the Fund's accounting records and the
custodian's records as of March 31, 2007 and verified reconciling items;
5.         Confirmation of pending purchases for the Fund as of March 31,
2007 with brokers, and where responses were not received, inspection of
documentation corresponding to subsequent cash payments;
6.	Agreement of pending sale activity for the Fund as of March 31, 2007
to documentation of corresponding subsequent cash receipts;
7.	Agreement of Dreyfus Family of Funds' trade tickets for seven
purchases and eight sales or maturities for the period October 31, 2006 (the
date of our last examination) through March 31, 2007, to the books and
records of the Funds noting that they had been accurately recorded and
subsequently settled;
8. 	Confirmation of all repurchase agreements with brokers/banks and
agreement of underlying collateral with the Custodian's records;
9.	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, 2006 through December 31, 2006 and noted no negative
findings were reported in the areas of Asset Custody and Control; and
10.	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 Reports, have remained in operation
and functioned adequately from January 1, 2007 through March 31, 2007.

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, management's assertion that the Dreyfus High Yield Strategies
Fund complied with the requirements of subsections (b) and (c) of Rule 17f-2
of the Investment Company Act of 1940 as of March 31, 2007, 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 Dreyfus High Yield Strategies 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

June 29, 2007


June 29, 2007


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

Management of the 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 March 31, 2007 and from October 31, 2006
through March 31, 2007.

Based on this 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 March 31, 2007 and from October 31,
2006 through March 31, 2007 with respect to securities reflected in the
investment accounts of the Fund.

Dreyfus High Yield Strategies Fund


James Windels
Treasurer