Collider2D.IsTouchingLayers() delayed reaction

I have a simple Player prefab and a simple Item prefab that both have a Collider2D which should block the Player's movement.

Currently: Player has a CircleCollider2D (isTrigger = false) and a RigidBody2D (isKinematic = true)

 Update() {
     //...
     Move(x, y)
 }
 
 Move(float x, float y) {
     //...
     //store current position
     currentPosition = transform.position
     //calculate new position
     newPosition = new Vector3(x, y, 0);
     //move object to newPosition
     transform.position = newPosition;
     //Check for collisions
     if (gameObject.GetComponent<CircleCollider2D>().IsTouchingLayers(layer)){//"layer" is set in Unity Editor
         print("Collision");
         //If collision, undo move
         transform.position = currentPosition;
     }
 }

Item has a CircleCollider2D (isTrigger = true)

Problem is, When the Player moves to a point where the Collider2Ds of each object overlap it does not pass the above IsTouchingLayers() check. However, when I move the player back to the original position where the Collider2Ds now no longer overlap, the above check is true. It seems that the IsTouchingLayers() check is delayed by a period of time/frame/etc.

I have edited the Update() function to include the same IsTouchingLayers() check, which is successfully true while the two Collider2Ds are overlapping, but I really need and want the check to be done before the player movement actually takes place.

Any assistance greatly appreciated! Thanks