Bruce claims that the rumours, which suggested the England international could move to St Andrews on a season long loan deal, are not true.
"I think someone's overheard something I've said on a golf course and its picked up from there. Its certainly not true," Bruce told Sky Sports News.
"Someone has just put two-and-two together and made five. The simple fact is there's no real truth in the story."
Dyer has held talks with Sir Bobby Robson to discuss his future at Newcastle following an alleged bust-up regarding what position he should play in for the Magpies and has issued a formal apology for his outbust.