The 24-year-old Sweden international has caught the eye of Reds manager Roy Hodgson, as revealed by skysports.comearlier in the week.
However, Toivonen, who played for PSV against Sibir Novosibirsk in the Europa League on Thursday, says he is focused on his future with the Dutch side.
"That is not important for me now," Toivonen told De Telegraaf.
"I am focusing on my own form to ensure that it doesn't get affected."
Liverpool boss Hodgson admitted their interest would reduce if the striker played in the Europa League, and it remains to be seen if the Premier League giants drop their pursuit.
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