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 of the Investment Company Act of 1940 as of May
31, 2012 and from March 31, 2012 through May 31, 2012 with respect to
securities reflected in the investment accounts of the Fund. 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,
2012 and with respect to agreement of security purchases and sales,
for the period from March 31, 2012 (the date of our last examination),
through May 31, 2012:
1. 	Examination of The Bank of New York Mellon'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.	Count and inspection of all securities located in the vault of
the Custodian in New York City;
4.	Reconciliation between the Fund's accounting records and the
Custodian's records as of May 31, 2012;
5.      Agreement of pending purchase activity for the Fund as of May
31, 2012 to documentation of corresponding subsequent bank statements;
6.	Agreement of pending sale activity for the Fund as of May 31,
2012 to documentation of corresponding subsequent bank statements;
7.	Agreement of five purchases and five sales from the period
from March 31, 2012 (the date of our last examination) through May 31,
2012 from the books and records of the Fund to the bank statements
noting that they had been accurately recorded and subsequently settled;
8.	Review of the BNY Mellon Asset Servicing Report on Controls
Placed in Operation and Tests of Operating Effectiveness ("SOC 1
Report") for the period from April 1, 2011 to March 31, 2012 and noted
no relevant findings were reported in the areas of Asset Custody and
Control; and
9.	We inquired of the Custodian who confirmed that all control
policies and procedures detailed in Section III Control Objectives,
Controls and Tests of Operating Effectiveness of the SOC 1 Report, have
remained in operation and functioned adequately from April 1, 2012
through May 31, 2012. 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, 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 May 31,
2012, and from March 31, 2012 through May 31, 2012, 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.

/s/ KPMG LLP
New York, New York
August 27, 2012



August 27, 2012


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, 2012 and from March
31, 2012 through May 31, 2012.
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, 2012 and from March 31, 2012
through May 31, 2012 with respect to securities reflected in the investment
account of the Fund.

Dreyfus High Yield Strategies Fund


Jim Windels
Treasurer