IVY resolve to latest.release resolves to wrong artifact - ivy

Question

I have an ivy xml file contains dependencies declarations, but uses the rev="latest.release" settings rather than specifying a hard wired revision.
<dependency org="<organisation name>" name="<module>" rev="latest.release"/>
The reason I am using latest.release is that every Sunday our build process runs and generates 'release' artifacts for ALL modules in our project. These artifacts are named WKXX-YYYY so for example, the most recent was WK05-2017
The problem is, when I do a resolve IVY is resolving the artifacts to version WK50-2016 and I do not understand why. The published ivy.xml that resides with the artifact on our central ivy repo seems correct and the info section states the correct status eg release and the publication date is also correct.
eg
WK50-2016
<info organisation="<org name>" module="<module name>" revision="WK50-2016" status="release" publication="20161218140515"/>
WK05-2017
<info organisation="<org name>" module="<module name>" revision="WK05-2017" status="release" publication="20170205140555"/>
As you can see from the above, the publication date is more recent in the WK05-2017 artifact.
I have also included the ivysettings.xml that is also used as part of the IVY configuration.
ivysettings.xml
<ivysettings>
<settings defaultResolver="chained"/>
<resolvers>
<!-- Remote IVY Repo -->
<filesystem name="remote" changingPattern=".*-SNAPSHOT.*" changingMatcher="regexp" checkmodified="true">
<ivy pattern="${ivy.repo.dir}/[organisation]/[module]/[revision]/ivy.xml"/>
<artifact pattern="${ivy.repo.dir}/[organisation]/[module]/[revision]/[artifact].[ext]"/>
</filesystem>
<!-- Local IVY Repo -->
<filesystem name="local" changingPattern=".*-SNAPSHOT.*" changingMatcher="regexp" checkmodified="true">
<ivy pattern="${ivy.local.repo.dir}/[organisation]/[module]/[revision]/ivy.xml"/>
<artifact pattern="${ivy.local.repo.dir}/[organisation]/[module]/[revision]/[artifact].[ext]"/>
</filesystem>
<!-- Use both the local and remote repos -->
<chain name="chained" changingPattern=".*-SNAPSHOT.*" changingMatcher="regexp" checkmodified="true">
<resolver ref="local" />
<resolver ref="remote"/>
</chain>
</resolvers>
<caches defaultCacheDir="${ivy.cache.dir}" ivyPattern="${ivy.cache.ivy.pattern}" artifactPattern="${ivy.cache.artifact.pattern}"/>
</ivysettings>
Just for reference.
changingPattern=".*-SNAPSHOT.*" changingMatcher="regexp" checkmodified="true"
are used as we also use SNAPSHOT integration artefacts that are built and published when commits are made to trunk. I found that without these attributes ivy would use the local SNAPSHOT even if the version on the remote repo was more recent.
Thanks in advance.