The 25-year-old central defender has been linked with a number of clubs over the summer, including Arsenal and Manchester City.
"It is irresponsible. Nothing has happened, there is nothing concrete, there is nothing to report," said Coyle.
"This story is without a shred of foundation. To just reel words off is in poor taste. Nothing surprises you in football but people should have more knowledge of the background for anything before they write it.
"It doesn't faze me. I am not raging about it. I am just making a point," he added.
Cahill has played three times for England, making his debut against Ghana in March 2011.