The Dane is being linked with a return to Real Madrid at the end of the season.
Dyer said: "Since I've been here the chairman has had four managers. He's brought in the right guy every time. We've never taken a step backwards. He knows what he's doing.
"Every manager brings in different things. Michael Laudrup was an amazing player. The experience and knowledge he's brought in has been unbelievable. 'But at the end of the day we still have the players who can play football. It's not like if we lose a manager we are going to be fighting relegation. That makes no sense."