Speculation has surfaced claiming that the Tigers have turned their attention to Austin in their pursuit of attacking talent.
Steve Bruce is readying Hull for a return to the Premier League and is looking to bring a proven marksman into his ranks.
He was said to have struck a deal with Burnley for Austin, who has been linked with a step up into the top flight for some time.
Dyche is, however, adamant that no sale has been sanctioned and that Austin remains very much part of his plans.
He said in the Burnley Express: "There's been no agreement reached.
"The noises are just the same because there's people hovering and clubs interested, but nothing is appropriate for us at this time so he's getting on with pre-season for us.
"There's no reason to think any different until it becomes any different. He's fine, he's in good shape, listening to what we think is appropriate and he's enjoyed himself since coming back for pre-season."
Dyche added on a man who netted 28 times in all competitions last season: "We want to keep the best players at the club, but there is that reality with the financial situation that we have to work within.
"We're just monitoring it as it unfolds. We want good players in the building and we want to work with good players."