"I do not like being linked to a club where another manager is in the job," he told the Bolton Evening News.
"It is unfair on me, it is unfair on this club and unfair on Graeme Souness. It just adds to the pressures."
Allardyce added: "You cannot stop speculation when there is a vacancy.
"But speculation before anything has happened is completely out of order."
Meanwhile, Bolton Wanderers goalkeeper Jussi Jaaskelainen admits that he may have to leave the club if his contract dispute is not resolved.
"It's out of my hands," said the Finland goalkeeper, who is out of contract in 2007.
"It would be great to sign a new deal but I have to look after my family."